Dear Fund Trustees:

In addition to Bylaw 7D1, a similar change is needed to Bylaw 7D2. Bylaw 7D2 currently reads:

VII. Meetings and Quorums.

D. Quorum

2. Members

A majority of the members of the Fund shall constitute a quorum of the membership for the purpose of considering any charter question. For all other purposes, including the election of Trustees, forty percent of the qualified Trustees shall constitute a quorum, provided that at least two members must be personally present.

The phrase “, provided that at least two Trustees must be personally present” for a special meeting for the election of Trustees is also obsolete now that the Board no longer has a primary meeting location. I propose that it be deleted. (This is only important in the event that a special meeting of members is called, probably preceding a meeting of Trustees, for the purpose of filling a vacancy on the Board of Trustees, because the election of Trustees for one-year terms is done by mail.)

Bylaw 7D2, when amended, should read:

VII. Meetings and Quorums.

D. Quorum

l. Trustees

A majority of the members of the Fund shall constitute a quorum of the membership for the purpose of considering any charter question. For all other purposes, including the election of Trustees, forty percent of the qualified Trustees shall constitute a quorum, provided that at least two members must be personally present.

Respectfully submitted,

Robert McClenon

President

Thursday, 4 December 2014