The Genstar’s amended and restated bylaws agreement is put in place to make changes to the existing bylaws in the company. The changes that are suggested to be made to the bylaws is enforced after the board of members in the company take a decision on the changes. The amendment is drafted and will go through a vote in a meeting of stockholders. The majority will decide enforcement of the amended agreement else the amendment does not go through.
The bylaws agreement also provides instructions in the election of directorships. The power to appoint directors is held by the directors holding the position then in the company. The shareholders holding shares at that point of time also have the right to make decisions in the appointment of directors. The meetings help in the company may also happen over the telephone. The agreement also provides regulations with regard to when and where the various meetings happen in the company.
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