link to Home Page

Current Lockbox Bylaws

Article 7: Records

Section 1: Corporate Records

The corporation shall keep, either within the Lockbox maintained by the Secretary or within the possession of the officer responsible for such records:

(a) minutes of all meetings of directors, committees of the board and, if this corporation has members, of all meetings of members, indicating the time and place of holding such meetings, whether regular or special, how called, the notice given, and the names of those present and the proceedings thereof;

(b) adequate and correct books and records of account, including accounts of its properties and business transactions and accounts of its assets, liabilities, receipts, disbursements, gains and losses;

(c) a record of its members, if any, indicating their names and addresses and, if applicable, the class of membership held by each member and the termination date of any membership;

(d) a copy of the corporation's Articles of Incorporation and Bylaws as amended to date, which shall be open to inspection by the members, if any, of the corporation at all reasonable times during office hours.

Article 4: Officers

Section 14: Backup to the Secretary

A backup to the Secretary of Troubled Times, Inc. will be established such that the original records of Troubled Times, Inc. are retained in a Lockbox within the continental United States, with a complete copy of such records in the hands of each officer. The Secretary will select, and the board approve, an elected board member to secure such Lockbox, and both the Secretary and this board member will have access to the Lockbox. Should the Secretary be unable to perform his duties, an emergency board meeting will be called with an interim Secretary appointed by the board and a special election called after 30 days when it is clear that the absence of the Secretary will continue for more than 30 days. Lacking an appointed interim Secretary, the President will be authorized to sign as the Secretary in his stead, but will not be authorized to have access to the original records.