When the directors voted to pay him $10,000 per year, he turned it down.

At such meetings each director shall vote in proportion to his number of shares.

In the end, 13 directors voted for his resignation, while 7 said he should stay.

But in October, directors voted to strip him of all three.

In addition, shareholders or directors related to the transaction cannot vote on the deal.

Only directors who were in office before the offer was made could vote to approve such a deal sooner.

By law, directors at each of the 12 Fed regional banks must vote on their bank's discount rate.

The directors might have voted in favor of the center, to judge from their remarks at the board meeting.

The directors voted on the new chancellors early this month.

So the directors voted the club out of existence starting yesterday, although the members have not abandoned all hope.