Stanford Campus Residential Leaseholders

“Qualifications and Rights of Membership: All residential land leaseholders on the campus of the University who participate as required on a household basis in the ground rent and water charge system maintained by the University are entitled to membership in the Corporation without dues or other financial obligations to the Corporation. Leaseholders shall automatically be considered as members in the absence of any declinations in writing to the secretary, at any time. All leaseholders resident spouses upon notification in writing to the secretary shall also be members.”

“Election of Members and Their Rights: Each member shall be entitled to vote in person or by proxy to another member or to a proxy committee in elections of directors and in other voting by the general membership. In the interests of equality among households, a leaseholder without a resident spouse member shall be entitled to one additional vote in person or by proxy in such voting as provided in the Bylaws.”

“Each person entitled to vote shall have the right to do so either in person or by one or more agents authorized by a written proxy, signed by the person and filed with the Secretary of the Corporation. A proxy shall be deemed signed if the members name is placed on the proxy (whether by manual signature, typewriting, telegraphic transmission, or otherwise) by the member or the members attorney-in-fact. If a quorum is present, the affirmative vote of the majority of the voting power represented at the meeting, entitled to vote and voting on any matter, shall be the act of the members, unless the vote of a greater number or voting by classes is required by the California Nonprofit Public Benefit Corporation Law or by the Articles of Incorporation.”

“The tax return is prepared by a Certified Public Accountant and is forwarded to the principle officer for review, once it is reviewed the Certified Public Accountant will print out the final return for signature and mailing. The tax return is made available to the full board prior to its filing.”

“Unless approved by members under 7233(a) of the California Corporations Code, any transaction (a) to which the Corporation, its parent, or its subsidiary was a party, (b) which involved more than $50,000.00 or was one of a number of such transactions with the same person involving, in the aggregate, more than $50,000.00 and (c) in which either of the following interested persons had a direct or indirect material financial interest (a mere common directorship is not a material financial interest):(a) Any director or officer of the Corporation, its parent, or its subsidiary; Any holder of more than ten percent (10%) of the voting power of the Corporation, its parent, or its subsidiary. The statement shall include a brief description of the transaction, the names of interested persons involved, the relationship to the Corporation, the nature of their interest in the transaction, and when practicable, the amount of that interest, provided that, in the case of a partnership in which such person is a partner, only the interest of the partnership need be stated. A brief description of the amounts and circumstances of any loans, guaranties, indemnifications, or advances aggregating more than $10,000.00 paid during the fiscal year to any officer or director of the Corporation under the loan, guaranty, indemnification, or advance has already been approved by the members under 5034 of the California Corporations Code, or the loan or guaranty is not subject to the provisions of subdivision (a) of 7235(a) of that Code.”

“The ED's compensation is determined by the Board of Directors. The compensation package was developed by reviewing market surveys which provided compensation ranges based on comparable non-profit organizations, location, organization size and the ED's responsibility level. The Board also took into consideration the relationship of the ED compensation to the compensation of other employees, the complexity of the organization and its size, the job responsibilities of the ED, the individual's salary history, and the organization's need for such services.”

“The Organization makes its governing documents available to the public directly upon their request.”