EXTRAORDINARY GENERAL MEETING

THE FOLLOWING ARE THE POWERS OF THE EXTRAORDINARY GENERAL MEETING DEFINED IN THE PEÑA MADRIDISTA BYLAWS

(ESTATUTOS EXTRANJEROS)

 CHAPTER II – GOVERNING AND ADMINISTRATIVE BODIES

ARTICLE 11

The following powers correspond to the Extraordinary General Meeting:

a).  Appointment of Board members.

b).  Amendment of Bylaws.

c). Winding up of the Association.

d). Disposition and alienation of assets

e). Borrowing money in the form of loans or credit, or issue debt securities, where this involves more than twenty percent of the budget.

f). Expulsion of members at the suggestion of the Board of Directors.

ARTICLE 12

The agreements shall be adopted for a simple majority of votes and by a two thirds majority in the case of Extraordinary General Meeting.

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New Board of Directors were elected at our Extraordinary General Meeting

on 31/JANUARY/2016 at El PERIHUETE Restaurant in Paramount Ca.