5.03 post or amendments to the Statutes
On 26 November 2007, the Board of Directors (the “Board”) von Otter Tail Corporation (the “Company”) the amendment of Article 2.03 of the board of directors of the company Adapted statutes ( “Regulations”) provide that meetings of shareholders can be achieved by the firm’s Board of Directors, its Chief Executive Officer, or any other person, particularly in connection with the authorization of the Minnesota Business Corporation Act include meetings. 2.03 previously provided that the meetings would be called by the Chief Executive Officer, Chief Financial Officer, two directors or by a shareholder or shareholders at least 10% of all voting shares on matters to be presented at the meeting. The amendment was adopted with immediate effect, cease.
In addition, the Board of Directors has approved amendments to the statutes, with immediate effect, a procedure for shareholders want to nominate persons for election within the society Board of Directors, or business, before a regular meeting shareholders. The new procedure appear in Sections 2.09 and 2.10 of the statutes, and to provide that the shareholder must be an opinion on the appointment of a person for election to the Board of Directors or “business-to be before a regular meeting of the company at least 90 days before the anniversary of last year’s regular meetings. The amendments also seek the information presented, that must be a shareholder of communication to the company.
The summary of this point of 5.03 statutes of changes described above is qualified in its entirety by reference to the full text of Articles 2.03, 2.09 and 2.10, a copy of written evidence that 3, Exhibit 1 below and incorporated by reference.
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