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of its charitable purpose by promoting low-income and <br />affordable housing and by providing decent housing that <br />is affordable to low-income and moderate -income persons, <br />thus minimizing displacement and gentrification which <br />often accompany the revitalization of historic areas and <br />districts. <br />SECTION 1.4: The exact text of Article VI, Section 1, of the <br />Articles, as amended, supersedes and takes the place of the <br />previously existing Section 1 of Article VI and is now as follows: <br />Section 1. Number of Directors, Quorum. The Board of <br />Directors shall be composed of no fewer than <br />nine (9) and no more than thirty (30) <br />directors; provided, however, that the exact <br />number of the directors shall be prescribed <br />from time to time in the bylaws of the <br />Corporation and provided further that under no <br />circumstances shall the minimum number be less <br />than three (3). At any meeting of the Board <br />of Directors, the presence of one-third of the <br />total number of directors, but in no case less <br />than two (2), shall constitute a quorum for <br />the transaction of any business. <br />SECTION 1.5: Article VI, Section 7, shall be deleted in its <br />entirety. <br />ARTICLE II <br />Manner_ of _Adoption and Vote <br />Section 2.1. Action by Directors. The Board of Directors of the <br />Corporation duly adopted a resolution proposing to amend the terms <br />and provisions of Articles II.A, II.D, V2.1 and VI.7 of the <br />Articles of Incorporation and directing a meeting of the members, <br />to be held on February 25, 1993, allowing such members to vote on <br />the proposed amendment. The resolution was adopted by a vote of <br />the Board of Directors at a meeting held on February 25, 1993, at <br />which a quorum of such Board was present. <br />Section 2.2. Action by Members. The members of the Corporation <br />entitled to vote in respect to the Articles of Amendment adopted <br />the proposed amendment. The proposed amendment was adopted by a <br />vote of such members during the meeting called by the Board of <br />Directors. The result of such vote is as follows: <br />MEMBERS ENTITLED TO VOTE: 24 <br />MEMBERS VOTED IN FAVOR: 11 <br />MEMBERS VOTED AGAINST: 0 <br />2 <br />