JPMorgan Updates By-laws In Case Of "Nuclear Disaster" Or World War III

Tyler Durden's picture

In the most bizarre news of the day, Bloomberg's Hugh Son noticed that in a late Thursday filing, the board of JPMorgan approved a series of revisions to the bank's by-laws, including a particularly notable one: a new section defining what constitutes a quorum in an emergency resulting from "an attack on the United States" or a “nuclear or atomic disaster.” That scenario is listed among emergencies that - understandably - might make it hard to hold a normal meeting for board members of America's largest bank.

The clause can be activated not just in case of a nuclear disaster or World War III, but also in a variety of situations including "without limitation apparent terrorist activity or the imminent threat of such activity, chemical and biological attacks, natural disasters, or other hazards or causes commonly known as acts of God."

In short, JPMorgan's Board has decided it is time to seriously consider a TEOTWAWKI scenario.

As Son notes, in such an event, any member of the board or the firm’s operating committee can call a meeting using “any available means of communication.” And, just in case everyone else on the Board happens to die, one person will be sufficient to constitute a quorum. Vacancies can be filled by a majority vote of available directors. And if none are around, then designated officers can stand in. No officer, director or employee can be held liable in such a situation, except for “willful misconduct.”

The revised Emergency By-Laws are reposted below (highlights ours):

ARTICLE XI

 

Emergency By-laws

 

Section 11.01. Emergency By-laws. This Article XI shall be operative during any emergency resulting from an attack on the United States or on a locality in which the Corporation conducts its business or customarily holds meetings of its Board or its stockholders, or during any nuclear or atomic disaster, or during the existence of any catastrophe or other similar emergency condition (including without limitation apparent terrorist activity or the imminent threat of such activity, chemical and biological attacks, natural disasters, or other hazards or causes commonly known as acts of God), as a result of which a quorum of the Board or the Executive Committee thereof cannot readily be convened for action (an “Emergency”), notwithstanding any different or conflicting provisions in the preceding Articles of these By-laws, the Certificate of Incorporation or the General Corporation Law. To the extent not inconsistent with the provisions of this Article XI, the By-laws provided in the other Articles of these By-laws and the provisions of the Certificate of Incorporation shall remain in effect during such Emergency and upon termination of such Emergency, the provisions of this Article XI shall cease to be operative.

 

Section 11.02. Meetings. During any Emergency, a meeting of the Board, or any committee thereof, may be called by the Chairman or any other member of the Board or the Chief Executive Officer, or any member of the Corporation’s Operating Committee (each, a “Designated Officer” and collectively, the “Designated Officers”), or the Secretary. Notice of the time and place of any meeting of the Board or any committee thereof during an Emergency shall be given by any available means of communication by the individual calling the meeting to such of the directors and/or Designated Officers who shall be deemed to be directors of the Corporation for purposes of obtaining a quorum during an Emergency if a quorum of directors cannot otherwise be obtained during such Emergency, in each case, as it may be feasible to reach. Such notice shall be given at such time in advance of the meeting as, in the judgment of the individual calling the meeting, circumstances permit.

 

Section 11.03. Quorum. At any meeting of the Board, or any committee thereof, called in accordance with Section 11.02 above, the presence of one director shall constitute a quorum for the transaction of business. Vacancies on the Board, or any committee thereof, may be filled by a majority vote of the directors in attendance at the meeting. In the event that no directors are able to attend the meeting of the Board, then the Designated Officers in attendance shall serve as directors for the meeting, without any additional quorum requirement and will have full powers to act as directors of the Corporation for such meeting.

 

Section 11.04. Amendments. At any meeting called in accordance with Section 11.02 above, the Board or a committee of the Board, as the case may be, may modify, amend or add to the provisions of this Article XI so as to make any provision that may be practical or necessary for the circumstances of the Emergency.

 

Section 11.05. Management Contingency Plan. During an Emergency, the Corporation shall be managed by the Operating Committee under the direction of the Chief Executive Officer. In the absence of the Chief Executive Officer or his or her successor, the Operating Committee shall act under the direction of the Operating Committee member with the longest tenure with the Corporation.

 

Section 11.06. Liability. No officer, director or employee of the Corporation acting in accordance with the provisions of this Article XI shall be liable except for willful misconduct.

 

Section 11.07. Repeal or Change. The provisions of this Article XI shall be subject to repeal or change by further action of the Board or by action of the stockholders, but no such repeal or change shall modify the provisions of Section 11.06 of this Article XI with regard to action taken prior to the time of such repeal or change.

 

Section 11.08. Termination of Emergency. The provisions of this Article XI shall cease to be operative upon the termination of the Emergency as determined by a quorum of the Board or the Executive Committee thereof in accordance with Sections 2.06 and 3.01, respectively, of these By-laws.

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LindseyNarratesWordress's picture

What-the-fuck other nasty-shit, like 9/11, Gulf-of-Tonkin, (((OKC))), etc., are (((the cabal))) planning, VERY, VERY FUCKING SOON, this time?

 

Man...this really looks like we are in "that" time, now, Folks, that people have been screaming-from-the-roof-tops about on talk-radio for decades--you know the "black-helicopter" types, WHO ALL PROVED TO BE 100% RIGHT.

 

Lindsey

abyssinian's picture

Anything on there about buying Bitcoins? Will the JPM traders get fire buying bitcoin during a nuclear war? 

YUNOSELL's picture

Most bullish news I've heard all week. Time to call my broker.

toady's picture

Good to know they'll be around to fuck us in the ass no matter what...

ain't no act of God gonna stop them!

old naughty's picture

wow, "designated survivor" live,

right before our eyes (or under our noses) !

Praetorian Guard's picture

The good news, is they will be able to sell options on cockroaches, or to cockroaches, depending if any humans survive. I hear roaches like to invest, and are GREAT consumers!!!

 

Come join us for FREE at www.gunsgrubandgold.com

ALL are welcome!!!

Squid-puppets a-go-go's picture

what's their definition of 'Catastrophe' ? Miley Cyrus dropping her mic to reveal she's lip-synching?

Tapeworm's picture

Or any time duration where flags are flown at half-staff.

aloha_snakbar's picture

No, just a dunce/pussy hat...

espirit's picture

Everybody in the safe-room but me.

HaHahahaha...

MozartIII's picture

So they are going to take out NK for its resources. The bigger problem is in Syria, the US can't stop murduring the Russian Generals or Diplomats, because the US is so tuff and unstopable when they have Russian inteligence info. Russia is getting pissed. The US has done nothing but lose and antagonize in Syria (When has the us won against a real enemy in recent history?????).

 

China is laying the oceans with subs, Russia owns our radar and communications. Lets kill ourselves due to 1980's ego's!!!  But we are america.......

HRClinton's picture

Whereas we're a bunch of rent-seeking, unethical, parasitic scum and banksters...

Whereas the unwashed masses are sharpening their pitchforks and headed or way...

...

Where ass?  Where's my ass?

pizdowitz's picture

Any which way you turn, the ass is always in the back.

Rapunzal's picture

The bankers no law too short to steal from the people. The parasitic elites at their best doing gods work. I'm glad they don't believe yet they are gods.

kbohip's picture

I saw a guy out on the street corner today with a sign that read "The End is Near.  Jesus Saves."  I kid you not.  I thought they only existed in movies.

Citizen G's picture

You’ve obviously never been to Cleveland!

Buck Johnson's picture

For JP Morgan (the most connected bank in the US and the world) to be doing this, they must know something is about to happen that a.) could lead to disaster or b.) it may be something that will happen to us.  Either way they doing this they know something.

 

 

SilverDoctors's picture

what they're planning is a false flag event to get rid of Trump once and for all, and to bring back their messiah, Barack Hussein Obama while bringing America to her knees.   Personally I'm guessing a nuclear bomb or EMP false flag blamed on "rocket man", which will kick off WW3, and also allow the Deep State to blame Trump for "Provoking rocket man with his tweets". 

"It is during this time that Barack Hussein Obama will rise back to power and as I have told you before he will become the final anti-Christ. If you look closely at some of your media sources who report  at least some truth you can see that he has never really gone away and that he is planning his
return. He is working his evil plan behind the scenes to remove Donald Trump as the president of America and he will succeed after the false flag event that they have planned.
After this takes place life as you know it will not exist and events will happen so fast that you will not be able to believe it, but I am telling you now that it is so. The economy will be the first thing to fall after this "false flag kickoff event" and then war will hit all of the world. Civil war will ensue in America as well as natural disasters and invasions from all sides.
America will be destroyed for she is Babylon the great."

http://holyspiritwind.blogspot.com/2017/08/barack-obama-will-be-worshipped-as-god.html


Implied Violins's picture

Something wicked this way comes...

BobEore's picture

Meaningless

when placed beside the fact that

"It was the night of 3 October 1965, in Havana, in what was then called the Chaplin Theatre (now known as the Carlos Marx Theatre): the very first Central Committee of the Communist Party was established and it established its official media, the newspaper, the Granma, the culmination of a defining stage in consolidating the Revolution."

Unlike Korea of the postwar period, Cuba was an economically vibrant state, one of the top four economies of the western hemisphere (along with USA Canada Argentina)even tho tiny by comparison with the others.

A strong middle class, wealthy agricultural sector, free press and diverse political expression...

all wiped away via a CFR operated putsch pitched by the NYT as a "revolution" against tyranny.

And that is how Communism will come the the former USA. A cabal of traitors with their chosen Castro, no matter the tag - left/right, "populist" or otherwise - a fascist dictatorship run by the usual suspects(Sraeli gangsters now own the bulk of Cubans' infrastructure and natural resources)

the press reduced to a "Granma" like organ of the gangster state - a pogrom against the middle class and free peasantry who resist - just like the campaign in the Sierras against the Cuban resistance, aided by Merikan weapons and advisors -

the end of gun sales, and the elimination of constitutional protections.

One Hundred Years since the original Red October of 1917 - brought to you by Wall St.

"

"You guys know what this represents? Maybe it's the calm before the storm... you'll find out."

he he he...
We almost ready now... forward comrades!

Placerville's picture

Planned or unplanned event is the question.

Implied Violins's picture

I keep wondering if it's something that is coming that the elite know about but are powerless to stop, like this:

https://www.sott.net/article/363452-House-sized-asteroid-will-come-damn-...

It would make sense of the Korean nuke bullshit. If one hit they could just say it was Crazy Kim instead of something that would freak the hell out of everyone on the planet (while they wait it out in their hidey-holes).

peddling-fiction's picture

The unplanned comes after the planned.

shimmy's picture

So guessing this may tie into pumpkin's calm before the storm remark. 

Very curious about what is going to happen. I'm hoping it is natural disaster related and not just some human caused war mongering bullshit. 

espirit's picture

Look at the bright side, humans won't destroy the Earth.

It'll be habitable again in 10,000 years or so...

land_of_the_few's picture

And no more JP Morgan after the first 10 minutes, so they shouldn't bother writing anything really.

aloha_snakbar's picture

Don’t worry about a ‘quorum’ , assholes; worry about zombies who will be hunting you down like the dogs you are...

HRH Feant2's picture

Stanky wet dogs and their Becky's. Yep. They will be hunted. Better have a good bunker.

Hope they read "Level 7" and the Wool Series by Hugh Howey. Those novels go into detail what happens to people that are forced to live underground.

Father ¢hristmas's picture

Fun Fact: My brother in law in Homeland Security told me back in '09 that the gubmint tracks everyone who purchases or checks out "Behold A Pale Horse".

And I was a Bill Cooper fan ever since.

And where the fuck is Paul Craig Roberts's Eddie Murphy in white man's make-up on Saturday Night Live looking ass?!?

We need some commentary on this bullshit going on, Paul.

skinwalker's picture

Thanks for the tip, I'll check it out.

I figure that because I comment here I'm already on some list anyway.

HRH Feant2's picture

Same here. Bigger fish in the pond than me. I don't even count as fry.

HRClinton's picture

Shouldn't they worry more about the Pale Rider, than the damn horse?

Dill-Temko's picture

Where's the section where Jamie takes out 3.5 billion in life insurance on Evelyn's minions? When you see that you know the end is within 6 months, on a major kabbalistic date, one that celebrates genocide, and treachery.

exartizo's picture

For those who may not understand:

TEOTWAWKI = "The end of the world as we know it"

yeah.

no.

not related to any poor American Indian tribes.

DirtySanchez's picture

Planet is long overdue for a massive meteor/asteroid strike.

Couple million years without human life, especially the trouble maker dual citizens of the middle east, and earth will be good to go again, with whatever evolves.

espirit's picture

I'm betting on lizzards, lots of lizzards.

...and cockroaches.

Lost in translation's picture

In the event of a nuclear catastrophe, you should summarily execute every last corporate officer from JP Morgan Chase that crosses your path.

skinwalker's picture

It'd be amusing to watch some banking CEO floundering when he realized his billions are worth precisely dick.

I'd bet he'd be giving BJs for a bowl of rice, seeing as he had no real world skills.

Welcome to skinwalker's post apocalyptic brothel and cantina! Get serviced by the oligarch of your choice!

Fantasizing is fun sometimes.

ClickNLook's picture

They will be in New Zeland...

You may cross ways with only bank tellers who will be searching for food just like you

pizdowitz's picture

Actually, Darth Vader prime focus is New Zealand now... God bless him

matermaker's picture

We will be the ones who set off the EMP.  They are just hedging against NORK getting one or two off before everything goes more black than it is.  It's a damn good opton, as things set.  Soviet era conventional artillery won't work.  You could probably do it and pinpoint it with lancers.  I still say there is a reason almost every carrier is in port or in the Carribean other than the Reagan.  Certainly could do it with subs in under a half hour.   can anyone guess where the USS Colorado is?  ...or the X-B37?  Elon didn't fuck that one up when it re-launched about a month ago.

https://youtu.be/wH8F8K5DkzM