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0 0 <br />i 301( tiv PAGE ti c.`- <br />BY-LAWS <br />OF <br />LEE COUNTY ECONOMIC DEVELOPMENT CORPORATION <br />ARTICLE I <br />Offices <br />Section 1. Registered Office. The corporation shall have and <br />continuously maintain in this State a registered office and a registered agent <br />whose office is identical with such registered office. Such registered office shall <br />be located at Sanford, Lee County, North Carolina, or at such other place within <br />the State of North Carolina as may from time to time be fixed and determined by <br />the Board of Directors. <br />Section 2. Other offices. The corporation may have other offices at <br />such places within Lee County, North Carolina as the Board of Directors may from <br />time to time determine. <br />ARTICLE II <br />Membership <br />Section 1. Members. The corporation shall have no members. <br />ARTICLE Ili <br />Board of Directors <br />Section 1. General Powers. The property, affairs, and business of the <br />corporation shall be managed by its Board of Directors. <br />Section 2. Number, Tenure, and Qualifications. The voting members <br />of the Board of Directors shall be at least eleven (11) in number and appointed as <br />follows: <br />(a) Four (4) members appointed by the Lee County Board of <br />Commissioners; <br />1 <br />