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Title: |
Bylaws |
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Entities: |
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Date: |
2000 |
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Size: |
Preview shows 11KB of 59KB total |
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Price: |
$40 |
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ID: |
#1692007 |
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Start of Preview |
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<SEQUENCE>3
<FILENAME>0003.txt
<TEXT>
BYLAWS
OF
DYNAMIC VENTURES INC.
TABLE OF CONTENTS
-----------------
<TABLE>
<CAPTION>
SECTION PAGE
------- ----
<C> <S> <C>
SECTION 1 - OFFICES . . . . . . . . . . . . . . . . . . . . . . . . 1
SECTION 2 - SHAREHOLDERS . . . . . . . . . . . . . . . . . . . . . . 1
2.1 Annual Meeting. . . . . . . . . . . . . . . . . . . . . . 1
2.2 Special Meetings. . . . . . . . . . . . . . . . . . . . . 1
2.3 Meetings by Communications Equipment. . . . . . . . . . . 2
2.4 Date, Time and Place of Meetings. . . . . . . . . . . . . 2
2.5 Notice of Meeting . . . . . . . . . . . . . . . . . . . . 2
2.6 Waiver of Notice. . . . . . . . . . . . . . . . . . . . . 2
2.7 Fixing of Record Date for Determining Shareholders. . . . 3
2.8 Voting Record . . . . . . . . . . . . . . . . . . . . . . 3
2.9 Quorum. . . . . . . . . . . . . . . . . . . . . . . . . . 3
2.10 Manner of Acting. . . . . . . . . . . . . . . . . . . . . 4
2.11 Proxies . . . . . . . . . . . . . . . . . . . . . . . . . 4
2.12 Voting Shares . . . . . . . . . . . . . . . . . . . . . . 4
2.13 Voting for Directors. . . . . . . . . . . . . . . . . . . 4
2.14 Action by Shareholders Without a Meeting. . . . . . . . . 4
SECTION 3 - BOARD OF DIRECTORS . . . . . . . . . . . . . . . . . . . 5
3.1 General Powers. . . . . . . . . . . . . . . . . . . . . . 5
3.2 Number, Classification and Tenure . . . . . . . . . . . . 5
3.3 Annual and Regular Meetings . . . . . . . . . . . . . . . 6
3.4 Special Meetings. . . . . . . . . . . . . . . . . . . . . 6
3.5 Meetings by Communications Equipment. . . . . . . . . . . 6
3.6 Notice of Special Meetings. . . . . . . . . . . . . . . . 6
3.6.1 Personal Delivery . . . . . . . . . . . . . . . 6
3.6.2 Delivery by Mail. . . . . . . . . . . . . . . . 6
3.6.3 Delivery by Private Carrier . . . . . . . . . . 7
3.6.4 Facsimile Notice. . . . . . . . . . . . . . . . 7
3.6.5 Delivery by Telegraph . . . . . . . . . . . . . 7
3.6.6 Oral Notice . . . . . . . . . . . . . . . . . . 7
3.7 Waiver of Notice. . . . . . . . . . . . . . . . . . . . . 7
3.7.1 In Writing. . . . . . . . . . . . . . . . . . . 7
3.7.2 By Attendance . . . . . . . . . . . . . . . . . 7
3.8 Quorum. . . . . . . . . . . . . . . . . . . . . . . . . . 7
i
<PAGE>
3.9 Manner of Acting. . . . . . . . . . . . . . . . . . . . . 8
3.10 Presumption of Assent . . . . . . . . . . . . . . . . . . 8
3.11 Action by Board or Committees Without a Meeting . . . . . 8
3.12 Resignation . . . . . . . . . . . . . . . . . . . . . . . 8
3.13 Removal . . . . . . . . . . . . . . . . . . . . . . . . . 9
3.14 Vacancies . . . . . . . . . . . . . . . . . . . . . . . . 9
3.15 Executive and Other Committees. . . . . . . . . . . . . . 9
3.15.1 Creation of Committees . . . . . . . . . . . . 9
3.15.2 Authority of Committees. . . . . . . . . . . . 9
3.15.3 Minutes of Meetings. . . . . . . . . . . . . . 10
3.15.4 Removal. . . . . . . . . . . . . . . . . . . . 10
3.16 Compensation. . . . . . . . . . . . . . . . . . . . . . . 10
SECTION 4 - OFFICERS . . . . . . . . . . . . . . . . . . . . . . . . 10
4.1 Appointment and Term. . . . . . . . . . . . . . . . . . . 10
4.2 Resignation . . . . . . . . . . . . . . . . . . . . . . . 10
4.3 Removal . . . . . . . . . . . . . . . . . . . . . . . . . 11
4.4 Contract Rights of Officers . . . . . . . . . . . . . . . 11
4.5 Chairman of the Board . . . . . . . . . . . . . . . . . . 11
4.6 President . . . . . . . . . . . . . . . . . . . . . . . . 11
4.7 Vice President. . . . . . . . . . . . . . . . . . . . . . 11
4.8 Secretary . . . . . . . . . . . . . . . . . . . . . . . . 11
4.9 Treasurer . . . . . . . . . . . . . . . . . . . . . . . . 12
4.10 Salaries. . . . . . . . . . . . . . . . . . . . . . . . . 12
SECTION 5 - CONTRACTS, LOANS, CHECKS AND DEPOSITS . . . . . . . . . 12
5.1 Contracts . . . . . . . . . . . . . . . . . . . . . . . . 12
5.2 Loans to the Corporation. . . . . . . . . . . . . . . . . 12
5.3 Checks, Drafts, Etc.. . . . . . . . . . . . . . . . . . . 12
5.4 Deposits. . . . . . . . . . . . . . . . . . . . . . . . . 13
SECTION 6 - CERTIFICATES FOR SHARES AND THEIR TRANSFER . . . . . . . 13
6.1 Issuance of Shares. . . . . . . . . . . . . . . . . . . . 13
6.2 Certificates for Shares . . . . . . . . . . . . . . . . . 13
6.3 Stock Records . . . . . . . . . . . . . . . . . . . . . . 13
6.4 Restriction on Transfer . . . . . . . . . . . . . . . . . 13
6.5 Transfer of Shares. . . . . . . . . . . . . . . . . . . . 14
6.6 Lost or Destroyed Certificates. . . . . . . . . . . . . . 14
SECTION 7 - BOOKS AND RECORDS . . . . . . . . . . . . . . . . . . . 14
SECTION 8 - ACCOUNTING YEAR . . . . . . . . . . . . . . . . . . . . 15
SECTION 9 - SEAL . . . . . . . . . . . . . . . . . . . . . . . . . . 15
ii
<PAGE>
SECTION 10 - INDEMNIFICATION . . . . . . . . . . . . . . . . . . . . 15
10.1 Right to Indemnification. . . . . . . . . . . . . . . . . 15
10.2 Restrictions on Indemnification . . . . . . . . . . . . . 16
10.3 Advancement of Expenses . . . . . . . . . . . . . . . . . 16
10.4 Right of Indemnitee to Bring Suit . . . . . . . . . . . . 16
10.5 Procedures Exclusive. . . . . . . . . . . . . . . . . . . 17
10.6 Nonexclusivity of Rights. . . . . . . . . . . . . . . . . 17
10.7 Insurance, Contracts and Funding. . . . . . . . . . . . . 17
10.8 Identification of Employees and Agents of the Corporation 17
10.9 Persons Serving Other Entities. . . . . . . . . . . . . . 17
SECTION 11 - LIMITATION OF LIABILITY. . . . . . . . . . . . 18
SECTION 12 - AMENDMENTS . . . . . . . . . . . . . . . . . . 18
</TABLE>
iii
<PAGE>
BYLAWS
OF
DYNAMIC VENTURES INC.
SECTION 1. OFFICES
The principal office of the corporation shall be located at the principal
place of business or such other place as the Board of Directors ("Board") may
designate. The corporation may have such other offices as the Board may
designate or as the business of the corporation may require.
SECTION 2. SHAREHOLDERS
2.1 ANNUAL MEETING
The annual meeting of the shareholders to elect Directors and transact such
other business as may properly come before the meeting shall be held on a date
not more than 180 days after the end of the corporation's fiscal year, such date
and time to be determined by the Board.
2.2 SPECIAL MEETINGS
(a) Subject to paragraph 2.2(b), the Chairman of the Board, the
President or the Board may call special meetings of the
shareholders for any purpose. Further, a special meeting of the
shareholders shall be held if the holders of not less than 25% of
all the votes entitled to be cast on any issue proposed to be
considered at such special meeting have dated, signed and
delivered to the Secretary one or more written demands for such
meeting, describing the purpose or purposes for which it is to be
held.
(b) So long as the Corporation is a public company, special meetings
of the shareholders of the Corporation for any purpose may be
called at any time by the Board or, if the Directors in office
constitute fewer than a quorum of the Board, by the affirmative
vote of a majority of all the Directors in office, but such
special meetings may not be called by any other person or
persons.
2.3 MEETINGS BY COMMUNICATIONS EQUIPMENT
Shareholders may participate in any meeting of the shareholders by any
means of communication by which all persons participating in the meeting can
hear each other during the meeting. Participation by such means shall
constitute presence in person at a meeting.
1
<PAGE>
2.4 DATE, TIME AND PLACE OF MEETING
Except as otherwise provide in these Bylaws, all meetings of shareholders,
including those held pursuant to demand by shareholders, shall be held on such
date and at such time and place designated by or at the direction of the Board.
2.5 NOTICE OF MEETING
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