GrillBillie_D
Full Fledged Farker
- Joined
- Mar 8, 2012
- Location
- Redding, CA
After the recent news that came out of the special Board meeting of the KCBS BOD, I had some questions for the Board. I emailed them 5 days ago and they have not responded, not even to acknowledge my question.
I'm curious as to what some of you think. Here is my email question regarding the Bylaws:
I'm curious as to what some of you think. Here is my email question regarding the Bylaws:
I am a KCBS Member and wish to get some clarification from the Board on the award of a Marketing Agreement contract. My concern is that the KCBS Bylaws say that a transaction like this may be prohibited.
Article XVII. PROHIBITED TRANSACTIONS No provision of the Articles of Incorporation or these Bylaws shall in any way be construed as permitting the Corporation, whether through its Board, its officers, agents, or other party acting in its behalf, to allow the net income or property of the Corporation to inure to the private benefit of any incorporator, Director, officer or individual having a personal or private interest in the activities of the Corporation.
Can someone please explain how the current Board President can be awarded a contract to receive income for Marketing services? As I read this Bylaw, it seems to clearly state that the Board may not allow net income to come in to cooperation with (inure) a private benefit (monetary contract) with a Director in the activities of the Corporation.