Troubled Times Inc.: July 20, 1997 Board Meeting Minutes

Minutes
Board Meeting
July 20, 1997

The meeting was conducted on NetMeeting, and was called to order and proceded according to the published agenda. Whiteboard contents during the meeting were the scheduled Agenda, the Solicitation Policy, and the 1 Year Budget. 50% of the active Board members were in attendance, a quorum - Clipper, Gerard, Nancy, and Ron. All votes were unanimous, the 50% of the active board required by the Bylaws.

1. Approval Articles & Bylaws, by unanimous vote of Board members in attendance.
: Articles of Incorporation; Bylaws on the Mission Statement, Board Members, Board Meetings, Officers, Officer Duties, Committees, Funds, Records, Members, Grants, Amendments.
2. President, Vice President, Treasurer, Secretary, by unanimous vote of Board members in attendance.
3. Public Relations, Internal Audit, by unanimous vote of Board members in attendance.
: Election results approved by the Board
4. Presentation by Secretary of Lockbox procedure for records retention
5. Approval of below by unanimous vote of Board members in attendance.
: Section 14 of Article 4 of the Bylaws states "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 who is not an officer to secure such Lockbox, and both the Secretary and this board member will have access to the Lockbox."; Accordingly Board member Brand, who is not an Officer, will secure a Lockbox and act as proxy for the Secretary to secure the original records on US soil.

6. Presentation of Solicitation Policy by Vice President
7. Approval of below by unanimous vote of Board members in attendance.
: Solicitation Policy
8. Presentation of Accounting Method and bank choice by Treasurer
9. Topic tabled until later meeting.

10. Presentation of 2 Year Budget by President
11. Discussion of 1 Year Budget below, deferral of 2 Year Budget until a later board meeting.
: 1 Year Budget
12. Discussion on immediate need for Attorney and CPA
13. Approval to defer selection by unanimous vote of Board members in attendance.

14. Presentation by Public Relation on InterNIC Domain Name choices
15. Topic tabled until a later board meeting
16. Presentation by Internal Audit on Electronic Bookkeeping and sharing
17. Topic tabled until a later board meeting
18. Discussion of Mail Forwarding requirements
19. Approval of below by unanimous vote of Board members in attendance.
: Clipper's PO Box for all director's mail at $106/year plus postage. Only important mail would be forwarded, junk mail discarded.
20. Consideration of $1,000 Gift from Nancy toward incorporation and administration costs.
21 Acceptance of below by unanimous vote of Board members in attendance.
: I, Nancy, gift to the newly forming Troubled Times, Inc., on this day, July 20, 1997, $1,000 to be used for incorporation and administrative expenses.
22. Ad hoc discussion on Meeting Protocol.
23. Approval of below by unanimous vote of Board members in attendance.
: Board members arriving late must notify the moderator of their presence.