National Research Corporation
Extract: Bylaws Amended/Restated (Plain English Desc) from a 8-K on 03/23/2020   Download
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On March 19, 2020, the Board of Directors (the “Board”) of National Research Corporation, a Wisconsin corporation (the “Company”), amended the Company’s By-Laws (the “Amended By-Laws”) to provide that the Board shall consist of not less than three (3) members, the exact number of which shall be fixed from time to time by the Board, and shall be divided into three classes with each class having as nearly equal in number of directors as reasonably possible. Previously the Company’s By-Laws provided that the Board was to be comprised of six members and each of the three classes was to be comprised of two members. The Company’s By-Laws were also amended to provide that a quorum of the Board is determined in relation to the number of directors comprising the Board, as fixed by the Board. Previously the Company’s By-Laws provided that a quorum of the Board was determined in relation to the number of directors comprising the Board specified in the By-Laws.