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Glen Odom

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  1. Our association's bylaws doesn't address RONR but does authorize use of the proxy vote. My question is as follows: The secretary sends out the notice of an annual membership meeting, advising of who the board recommends for officer positions and director vacancies. If the proxy is signed by the share holder and returned but in the space provided to list the designated proxy holder the shareholder leaves it blank should these "blank check" proxies be considered valid? The Board President notes that those left blank that he considers those within his authority to use and cast to his discretion? Seems like a "bogus" concept to me basically the same thing of me writing a check and leaving the payee blank for anyone to enter their name and cash my check. First stupid on the part of the shareholder but for sure shouldn't be counted as a proxy at the discretion of the board president. Can you clarify? Thanks,
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