Restrictions on Powers. Except as otherwise provided herein or by the Mandatory Provisions of the Act, a Member shall not have the authority or power to act on behalf of, or to bind, the Company, or any other Member, and a Member shall not have the right or power to take any action which would change the Company to a general partnership, change the limited liability of a Member, or affect the status of the Company for federal income tax purposes.
Restrictions on Powers. Notwithstanding any provision of Section 2.01(b) or Section 2.01(c), the Partnership will not:
Restrictions on Powers. 7.1 Pursuant to and to the extent required by Government Code Section 6509, as amended, the Agency shall be restricted in the exercise of its powers and shall exercise its powers in the same manner as the Town of Los Gatos is restricted in its exercise of similar powers; provided that, if the Town of Los Gatos shall cease to be a Member, then the Agency shall be restricted in the exercise of its power in the same manner as another Member agreed to by the majority of the Board of Directors. Unless expressly provided for, the Agency does not, by virtue of this Section or this Agreement, subject itself to the internal policies or ordinances of any Member.
Restrictions on Powers. Notwithstanding the provisions of this Article, none of the powers enumerated herein nor any power accorded to a Trustee generally pursuant to law shall be construed to enable the Settlor, the Trustee, or any other person (a) to purchase, exchange or otherwise deal with or dispose of the principal or income of this trust for less than an adequate or full consideration in money or money's worth, or (b) to borrow the principal or income of this trust, directly or indirectly, without adequate interest or security. No person, other than the Trustee, shall have or exercise the power (a) to vote or direct the voting of any stock or securities of this trust, (b) to control the investment of property of this trust either by directing investments or reinvestments or (c) to reacquire or exchange any property of this trust by substituting other property of any equivalent value.
Restrictions on Powers. Notwithstanding any powers granted to the Trustee pursuant to this Trust Agreement or by applicable law, the Trustee shall not have any powers that could give this Trust the objective of carrying on a business, and dividing the gains therefrom, within the meaning of Section 301.7701-2 of the Procedure and Administrative Regulations promulgated pursuant to the Code.
Restrictions on Powers. Pursuant to Section 6509 of the Act, the above powers shall be subject to the restrictions upon the manner of exercising the power of one of the Members, which is designated as County of Los Angeles.
Restrictions on Powers. The board may delegate to the executive committee any powers of the board, except making an apportionment or distribution of earnings, election of officers, filling vacancies on the board of directors, adopting amendments to the by-laws, hiring or terminating the general manager of the Co-operative or any other act or thing the Act stipulates the board cannot delegate.
Restrictions on Powers. The following specific restrictions on the powers and functions of the AUTHORITY shall apply and be observed by the AUTHORITY:
Restrictions on Powers. Said powers shall be exercised pursuant to the terms hereof, subject to the restrictions, if applicable to BETARMA, upon the manner of exercising the powers set forth in the Local Health Care District Law (Division 23 of the Health & Safety Code).
Restrictions on Powers. Except as otherwise provided herein or by the Mandatory Provisions of the Act, no Member other than the Manager shall have the authority or power to act on behalf of, or to bind, the Company, or any other Member, and no Member or Manager shall have the right or power to take any action which would change the Company to a general partnership, change the limited liability of a Member, change the manager or affect the status of the Company for federal income tax purposes.
