Power of Trustees to Designate Committees. The Trustees, by vote of a Majority of the Trustees, may elect from their number an Executive Committee and any other Committees and may delegate thereto some or all of their powers except those which by law, by the Declaration or by these Bylaws may not be delegated; provided, that an Executive Committee shall not be empowered to elect the President, the Treasurer or the Secretary, to amend the Bylaws, to exercise the powers of the Trustees under this Section 4.1 or under Section 4.3 hereof, or to perform any act for which the action of a Majority of the Trustees is required by law, by the Declaration or by these Bylaws. The members of any such Committee shall serve at the pleasure of the Trustees.
Appears in 3 contracts
Samples: Agreement and Declaration (Van Kampen American Capital Tax Exempt Trust), Agreement and Declaration (American Capital Corporate Bond Fund Inc), Agreement and Declaration of Trust (American Capital Life Investment Trust)
Power of Trustees to Designate Committees. The Trustees, by vote of a Majority of the Trustees, may elect from their number an Executive Committee and any other Committees and may delegate thereto some or all of their powers except those which by law, by the Declaration or by these Bylaws may not be delegated; provided, that an Executive Committee shall not be empowered to elect the President, the Treasurer or the Secretary, to amend the Bylaws, to exercise the powers of the Trustees under this Section 4.1 or under Section 4.3 hereof, or to perform any act for which the action of a Majority of the Trustees is required by law, by the Declaration or by these Bylaws. The members of any such Committee shall serve at the pleasure of the Trustees. SECTION 4.2.
Appears in 2 contracts
Samples: Agreement and Declaration (American Capital Growth & Income Fund Inc), Agreement and Declaration (Van Kampen American Capital World Portfolio Series Trust)
Power of Trustees to Designate Committees. The Trustees, by vote of a Majority of the Trustees, may elect from their number an Executive Committee executive committee and any other Committees committees and may delegate thereto some or all of their powers except those which by law, by the Declaration or by these Bylaws By-Laws may not be delegated; provided, that an Executive Committee no committee shall not be empowered to elect the Chairman of the Trustees, the President, the Treasurer or the Secretary, to amend the BylawsBy-Laws, to exercise the powers of the Trustees under this Section 4.1 or under Section 4.3 hereof, or to perform any act for which the action of a Majority of the Trustees is required by law, by the Declaration or by these BylawsBy-Laws. The members of any such Committee shall serve at the pleasure of the Trustees.
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Power of Trustees to Designate Committees. The Trustees, by vote of a Majority majority of the Trustees, may elect from their number an Executive Committee, a Nominating Committee, an Audit Committee and any other Committees committees and may delegate thereto some or all of their powers except those which by law, by the Declaration or by these Bylaws By-Laws may not be delegated; provided, that an Executive Committee shall not be empowered to elect any officer of the President, the Treasurer or the SecretaryTrust, to amend the BylawsBy-Laws, to exercise the powers of the Trustees under this Section 4.1 3.01 or under Section 4.3 3.03 hereof, or to perform any act for which the action of a Majority majority of the Trustees is required by law, by the Declaration or by these BylawsBy-Laws. The members of any such Committee committee shall serve at the pleasure of the Trustees.
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