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• <br /> Section . 330 Quorum. <br /> The charter or the rules and regulations pursuant thereto <br /> shall establish the quorum necessary for action by the Board of <br /> Directors or Membership. <br /> Section . 340 Voting--Representation. <br /> A. The charter or rules and regulations pursuant thereto <br /> shall provide for the manner of balloting and any representation <br /> of persons absent from meetings . For example, the charter may, <br /> but need not provide for or allow: balloting by mail ; absentee <br /> ballots or written statements received by mail or delivery <br /> (before or after a meeting) to supplement balloting at a meeting; <br /> or voting as directed in a written proxy taking a position on a <br /> particular issue, candidacy, or nomination. <br /> B. No proxy or voting trusts or pooling arrangements shall <br /> be allowed delegating to the holder discretion in casting a <br /> ballot or to act for a principal on undisclosed or general <br /> matters to be raised at a meeting of the Board of Directors or of <br /> the Membership. <br /> Section . 350 Tenure in office. <br /> A. A corporate official shall serve for the term designated <br /> and until his successor shall have been elected or appointed and <br /> qualified. <br /> B. Any corporate official may be removed from any corporate <br /> office or position in such manner as the charter or rules and <br /> regulations pursuant thereto shall prescribe. Any position o <br /> corporate office may be abrogated or extinguished during an <br /> existing term. Upon removal from a corporate office or position <br /> or upon the abrogation or extinction thereof , such corporate <br /> official shall have no power of office, but the same shall be <br /> without prejudice to any vested contract right to compensation <br /> for services rendered or tendered. <br /> Section . 360 Deposit of public funds . <br /> All moneys belonging to or collected for the use of the <br /> public corporation coming into the hands of any officer thereof , <br /> shall immediately be deposited with the treasurer or other legal <br /> depositary to the credit of such public corporation for the <br /> benefit of the funds to which they belong. <br /> Section . 370 Private use of public funds prohibited. <br /> The making of profit out of public money or using the same <br /> for any purpose not authorized by law by any officer having the <br /> possession or control thereof is prohibited. <br /> - <br /> 18 <br />