BYLAWS
 
                                       OF
 
                                   NUCO2 INC.
 
                             (a Florida corporation)
 
                                   -----------
 
                                    ARTICLE I
 
                                  SHAREHOLDERS
 
            1. SHARE CERTIFICATES.  Certificates evidencing fully-paid shares of
the  corporation  shall set forth thereon the  statements  prescribed by Section
607.0625 of the Florida Business  Corporation Act ("Business  Corporation  Act")
and by any other applicable provision of law, must be signed, either manually or
in facsimile, by any one of the following officers: the Chief Executive Officer,
the President,  a Vice President,  the Secretary,  an Assistant  Secretary,  the
Treasurer,  an Assistant Treasurer, or by any officer designated by the Board of
Directors,  and may bear the corporate seal or its facsimile.  If the person who
signed,  either  manually or in facsimile,  a share  certificate no longer holds
office when the certificate is issued, the certificate is nevertheless valid.
 
            2. FRACTIONAL  SHARES OR SCRIP. The corporation may: issue fractions
of a share  or pay in money  the  fair  value  of  fractions  of a  share;  make
arrangements,  or provide reasonable opportunity,  for any person entitled to or
holding a fractional  interest in a share to sell such fractional interest or to
purchase such additional  fractional  interests as may be necessary to acquire a
full share;  and issue scrip in  registered  or bearer form,  over the manual or
facsimile signature of an officer of the corporation or its agent, entitling the
holder to receive a full share upon  surrendering  enough  scrip to equal a full
share. Each certificate representing scrip must be conspicuously labeled "scrip"
and must contain the information required by of Section 607.0625 of the Business
Corporation  Act. The holder of a  fractional  share is entitled to exercise the
rights of a shareholder,  including the right to vote, to receive dividends, and
to participate in the assets of the corporation upon liquidation.  The holder of
scrip is not entitled to any of these rights unless the scrip provides for them.
The Board of  Directors  may  authorize  the  issuance  of scrip  subject to any
condition considered desirable, including (a) that the scrip will become void if
not exchanged for full shares before a specified  date;  and (b) that the shares
for which the scrip is  exchangeable  may be sold and the  proceeds  paid to the
scripholders.
 
            3. SHARE TRANSFERS.  Upon compliance with any provisions restricting
the  transferability  of  shares  that  may be set  forth  in  the  articles  of
incorporation,  these  Bylaws,  or any  written  agreement  in respect  thereof,
transfers  of shares of the  corporation  shall be made only on the books of the
corporation  by the  registered  holder  thereof,  or by his attorney  thereunto
authorized  by power of attorney  duly  executed and filed with the Secretary of
 
 
 
 
 
 
 
 
the corporation, or with a transfer agent or a registrar and on surrender of the
certificate or certificates for such shares properly endorsed and the payment of
all taxes thereon,  if any. Except as may be otherwise  provided by law or these
Bylaws,  the person in whose name shares  stand on the books of the  corporation
shall be deemed the owner  thereof for all purposes as regards the  corporation;
provided  that  whenever  any  transfer of shares  shall be made for  collateral
security,  and not  absolutely,  such  fact,  if known to the  Secretary  of the
corporation, shall be so expressed in the entry of transfer.
 
            4. RECORD  DATE FOR  SHAREHOLDERS.  For the  purpose of  determining
shareholders entitled to notice of or to vote at any meeting of shareholders, to
demand a special meeting,  or to take any other action,  the Board of Directors,
of the corporation may fix a date as the record date for any such  determination
of  shareholders,  such date in any case to be not more than seventy days before
the  meeting  or  action  requiring  such   determination  of  shareholders.   A
determination   of  shareholders   entitled  to  notice  of  or  to  vote  at  a
shareholders' meeting is effective for any adjournment of the meeting unless the
Board of Directors  fixes a new record date,  which it must do if the meeting is
adjourned  to a date more than one hundred  twenty days after the date fixed for
the original meeting.
 
            5. MEANING OF CERTAIN TERMS.  As used herein in respect of the right
to notice of a meeting of  shareholders or a waiver thereof or to participate or
vote  thereat or to  consent or dissent in writing in lieu of a meeting,  as the
case may be, the term  "share" or "shares" or  "shareholder"  or  "shareholders"
refers to an outstanding share or shares and to a holder or holders of record of
outstanding shares when the corporation is authorized to issue only one class of
shares,  and said reference is also intended to include any outstanding share or
shares and any holder or  holders of record of  outstanding  shares of any class
upon which or upon whom the articles of  incorporation  confer such rights where
there are two or more classes or series of shares or upon which or upon whom the
Business  Corporation Act confers such rights  notwithstanding that the articles
of incorporation may provide for more than one class or series of shares, one or
more of which are limited or denied such rights thereunder.
 
            6. SHAREHOLDER MEETINGS.
 
            - TIME. The annual meeting shall be held on the date fixed from time
to time by the directors. A special meeting shall be held on the date fixed from
time to time by the directors  except when the Business  Corporation Act confers
the right to call a special meeting upon the shareholders.
 
            - PLACE.  Annual meetings and special meetings shall be held at such
place in or out of the State of Florida as the directors shall from time to time
fix.
 
            - CALL.  Annual  meetings  may be  called  by the  directors  or the
Chairman of the Board of Directors,  the Chief Executive Officer, the President,
or the Secretary or by any officer  instructed by the directors or the President
to call the meeting. Special meetings may be called in like manner.
 
            - NOTICE OR ACTUAL OR CONSTRUCTIVE WAIVER OF NOTICE. The corporation
shall  notify  shareholders  of the date,  time,  and place of each  annual  and
 
                                      -2-
 
 
 
 
 
special  shareholders'  meeting. Such notice shall be no fewer than ten nor more
than sixty days before the meeting date. Unless the Business  Corporation Act or
the articles of  incorporation  require  otherwise,  notice of an annual meeting
need not include a description  of the purpose or purposes for which the meeting
is called.  Notice shall be given in the manner provided in Section  607.0141 of
the Business  Corporation  Act, by or at the  direction  of the Chief  Executive
Officer the  President,  the  Secretary,  or the officer or persons  calling the
meeting.  Notice of a special  meeting must include a description of the purpose
or purposes for which the meeting is called. Unless the Business Corporation Act
or the articles of incorporation require otherwise,  the corporation is required
to give  notice  only  to  shareholders  entitled  to  vote  at the  meeting.  A
shareholder may waive any notice required by the Business  Corporation  Act, the
articles  of  incorporation,  or the  Bylaws  before  or after the date and time
stated  in  the  notice.  The  waiver  must  be in  writing,  be  signed  by the
shareholder  entitled to the notice,  and be  delivered to the  corporation  for
inclusion in the minutes or filing with the corporate  records.  A shareholder's
attendance at a meeting waives  objection to lack of notice or defective  notice
of the meeting,  unless the  shareholder at the beginning of the meeting objects
to holding  the  meeting  or  transacting  business  at the  meeting;  or waives
objection to  consideration  of a  particular  matter at the meeting that is not
within the  purpose or purposes  described  in the  meeting  notice,  unless the
shareholder objects to considering the matter when it is presented.
 
            - VOTING LIST FOR MEETING. After fixing a record date for a meeting,
the  corporation  shall  prepare  an  alphabetical  list of the names of all its
shareholders who are entitled to notice of a shareholders' meeting,  arranged by
voting  group,  with the address of and number and class and  series,  if any of
shares held by each shareholder.  The  shareholders'  list must be available for
inspection by any shareholder,  for a period of ten days prior to the meeting or
such  shorter  time as  exists  between  the  record  date and the  meeting  and
continuing  through the meeting at the  corporation's  principal office, or at a
place  identified  in the meeting  notice in the city where the meeting  will be
held,  or at the office of the  corporation's  transfer  agent or  registrar.  A
shareholder,  his agent or attorney is entitled on written demand to inspect the
list  subject  to the  requirements  of  Section  607.1602(3)  of  the  Business
Corporation  Act, to copy the list,  during  regular  business  hours and at his
expense, during the period it is available for inspection. The corporation shall
make the shareholders'  list available at the meeting,  and any shareholder,  or
his agent or  attorney  is  entitled  to inspect the list at any time during the
meeting or any adjournment.
 
            - CONDUCT OF MEETING. Meetings of the shareholders shall be presided
over by one of the  following  officers in the order of seniority and if present
and acting - the Chairman of the Board,  if any, the Vice Chairman of the Board,
if any, the Chief Executive Officer, if any, the President, a Vice President, if
any,  or, if none of the  foregoing  is in office and present  and acting,  by a
chairman to be chosen by the shareholders.  The Secretary of the corporation, or
in his absence, an Assistant Secretary, shall act as secretary of every meeting,
but,  if neither the  Secretary  nor an  Assistant  Secretary  is  present,  the
chairman of the meeting shall appoint a secretary of the meeting.
 
            - PROXY REPRESENTATION. A shareholder may appoint a proxy to vote or
otherwise act for him by signing an appointment  form,  either  personally or by
his  attorney-in-fact.  An  appointment of a proxy is effective when received by
the  Secretary  or other  officer or agent  authorized  to  tabulate  votes.  An
 
                                      -3-
 
 
 
 
 
appointment  is  valid  for up to  eleven  months,  unless a  longer  period  is
expressly  provided  in the  appointment  form.  An  appointment  of a proxy  is
revocable by the shareholder  unless the appointment form  conspicuously  states
that it is irrevocable and the appointment is coupled with an interest.
 
            - SHARES HELD BY NOMINEES. The corporation may establish a procedure
by which the  beneficial  owner of shares that are  registered  in the name of a
nominee is recognized by the corporation as the shareholder.  The extent of this
recognition may be determined in the procedure.
 
            - QUORUM.  Unless the  articles  of  incorporation  or the  Business
Corporation Act provides otherwise,  a majority of the votes entitled to be cast
on a matter by a voting  group  constitutes  a quorum of that  voting  group for
action on that matter.  Shares  entitled to vote as a separate  voting group may
take  action on a matter at a meeting  only if a quorum of those  shares  exists
with respect to that matter.  Once a share is  represented  for any purpose at a
meeting,  it is deemed  present for quorum  purposes  for the  remainder  of the
meeting and for any  adjournment  of that meeting unless a new record date is or
must be set for that adjourned meeting.
 
            - VOTING.  Directors are elected by a plurality of the votes cast by
the shares  entitled  to vote in the  election at a meeting at which a quorum is
present.  If a quorum  exists,  action on a matter,  other than the  election of
directors,  by a voting  group is  approved  if the votes cast within the voting
group favoring the action exceed the votes cast opposing the action,  unless the
articles of  incorporation  or the Business  Corporation  Act requires a greater
number of affirmative votes.
 
            - PERMISSIBLE BUSINESS AT ANNUAL MEETINGS.
 
            (a) At an annual  meeting of the  shareholders,  only such  business
shall be conducted as shall have been properly brought before the meeting. To be
properly brought before an annual meeting, business must be:
 
                (i)  specified  in the  notice  of  meeting  (or any  supplement
            thereto) given by or at the direction of the Board of Directors,
 
                (ii) otherwise  properly brought before the meeting by or at the
            direction of the Board of Directors, or
 
                (iii)  otherwise  properly  brought  before  the  meeting  by  a
            shareholder in accordance with this subsection of Article I, Section
            6.
 
            (b) For business to be properly  brought before an annual meeting by
a  shareholder,  the  corporation  must have received  timely notice  thereof in
writing from such  shareholder.  To be timely,  a  shareholder's  notice must be
received by the  Secretary  of the  corporation  as of the date set forth in the
corporation's  proxy statement  relating to the annual meeting for the preceding
year; provided, however, that if no such date is stated, then such date shall be
 
                                      -4-
 
 
 
 
 
one hundred and twenty (120)  calendar days in advance of the date (with respect
to the forthcoming  annual meeting) that the  corporation's  proxy statement was
released to its  shareholders  in  connection  with the previous  year's  annual
meeting of security holders;  and provided further that if no annual meeting was
held in the previous year or the date of the annual  meeting has been changed by
more than thirty (30)  calendar days from the date  contemplated  at the time of
the  previous  year's  proxy  statement,  a proposal  shall be  received  by the
corporation  no later  than the  close  of  business  on the  tenth  (10th)  day
following the date on which notice of the date of the annual meeting is given to
shareholders or made public, whichever first occurs.
 
            (c) Such notification shall contain the following  information as to
each matter the shareholder proposes to bring before the annual meeting:
 
                (i) a brief  description  of the business  desired to be brought
            before  the annual  meeting  and the  reasons  for  conducting  such
            business at the annual meeting;
 
                (ii) the name and address,  as they appear on the  corporation's
            books, of the shareholder proposing such business;
 
                (iii) the class and number of shares of the corporation that are
            beneficially  owned,  as such term is defined  in Rule 13d-3  ("Rule
            13d-3")  promulgated  under the Securities  Exchange Act of 1934, as
            amended (the "Exchange Act"), by the shareholder;
 
                (iv)  any  substantial  interest  of  the  shareholder  in  such
            business; and
 
                (v) any other  information  required  pursuant  to the rules and
            regulations   promulgated   under  the   Exchange  Act  relating  to
            shareholder proposals.
 
            For purposes of clause (iv) above,  a  "substantial  interest of the
shareholder  in such  business"  shall be deemed to occur if such  interest were
reportable (assuming that the shareholder's  business was in fact brought before
the  annual  meeting)  pursuant  to  Item  5  of  Schedule  14A  (Rule  14a-101)
promulgated under the Exchange Act.
 
            (d)  Notwithstanding  anything  in the  Bylaws to the  contrary,  no
business shall be conducted at any annual meeting except in accordance  with the
procedures set forth in this subsection to Article I, Section 6.
 
            7. ACTION WITHOUT MEETING. Unless otherwise provided in the articles
of incorporation, action required or permitted by the provisions of the Business
Corporation Act to be taken at an annual or special meeting of shareholders  may
be taken  without a meeting,  without  prior  notice,  and without a vote if the
action  is taken by the  holders  of  outstanding  stock  of each  voting  group
entitled to vote thereon  having not less than the minimum  number of votes with
respect to each voting  group that would be  necessary to authorize or take such
action at a meeting at which all  voting  groups  and  shares  entitled  to vote
thereon  were  present and voted.  In order to be  effective  the action must be
evidenced by one or more written consents describing the action taken, dated and
signed by  approving  shareholders  having the  requisite  number of each voting
 
                                      -5-
 
 
 
 
 
group entitled to vote thereon,  and delivered to the corporation by delivery to
its principal  office in the State of Florida,  its principal place of business,
the corporate  Secretary,  or another officer or agent of the corporation having
custody  of the  book in which  proceedings  of  meetings  of  shareholders  are
recorded.  No written  consent shall be effective to take the  corporate  action
referred to therein,  unless within sixty days of the date of the earliest dated
consent  delivered  in the manner  required by Section  607.0704 of the Business
Corporation  Act, written consents signed by holders of shares having the number
of votes required to take action are delivered to the corporation by delivery as
set forth in Section  607.0704 of the Florida  Business  Corporation Act. Action
under this paragraph be subject to the  requirements of Section  607.0704 of the
Business Corporation Act.
 
                                   ARTICLE II
 
                               BOARD OF DIRECTORS
 
            1. FUNCTIONS GENERALLY - COMPENSATION. All corporate powers shall be
exercised  by or under the  authority  of, and the  business  and affairs of the
corporation managed under the direction of, a Board of Directors.  The Board may
fix the compensation of directors.
 
            2.  QUALIFICATIONS AND NUMBER. A director need not be a shareholder,
a citizen  of the United  States,  or a resident  of the State of  Florida.  The
corporation's Board of Directors shall consist of such number of directors as is
determined  from time to time by  resolution  adopted  by a vote of the Board of
Directors;  provided, however, that in no event shall the number of directors be
less than three (3).
 
            3. TERMS AND  VACANCIES.  The directors  shall be divided into three
(3)  classes,  designated  Class I,  Class II and Class III.  Each  class  shall
consist, as nearly as may be possible, of one-third (1/3) of the total number of
directors constituting the entire Board of Directors.  Initial Class I directors
shall serve for a term ending upon the annual  meeting of  shareholders  held in
2004,  initial Class II directors  shall serve for a term ending upon the annual
meeting of shareholders held in 2005 and initial Class III directors shall serve
for a term ending upon the annual meeting of shareholders  held in 2006. At each
succeeding  annual meeting of shareholders  beginning with the annual meeting of
shareholders  held in 2004,  successors  to the class of  directors  whose  term
expires at such annual  meeting  shall be elected for a three year term.  If the
number of directors is changed,  any increase or decrease  shall be  apportioned
among the classes so as to  maintain  the number of  directors  in each class as
nearly equal as possible,  and any  additional  director of any class elected to
fill a vacancy  resulting from an increase in such class shall hold office for a
term that shall coincide with the remaining  term of that class,  but in no case
will a decrease in the number of  directors  shorten  the term of any  incumbent
director.  A director shall hold office until the annual meeting for the year in
which his or her term  expires and until his or her  successor  shall be elected
and shall qualify, subject, however, to prior death, resignation, incapacitation
or removal  from office,  and except as otherwise  required by law. In the event
such election is not held at an annual meeting of shareholders, it shall be held
at any adjournment  thereof or a special  meeting.  Whenever a vacancy occurs on
 
                                      -6-
 
 
 
 
 
the Board of Directors,  including a vacancy  resulting  from an increase in the
number of directors,  it may be filled by the affirmative  vote of a majority of
the remaining directors, though less than a quorum of the Board of Directors, or
by the shareholders, unless the articles of incorporation provide otherwise.
 
            4. MEETINGS.
 
            - TIME.  Meetings shall be held at such time as the Board shall fix,
except  that the first  meeting of a newly  elected  Board shall be held as soon
after its election as the directors may conveniently assemble.
 
            - PLACE. The Board of Directors may hold regular or special meetings
in or out of the State of Florida at such place as shall be fixed by the Board.
 
            - CALL. No call shall be required for regular meetings for which the
time and place  have been  fixed.  Special  meetings  may be called by or at the
direction of the Chairman of the Board,  if any, the Vice Chairman of the Board,
if any, of the Chief Executive Officer or the President, or of a majority of the
directors in office.
 
            - NOTICE OR ACTUAL OR CONSTRUCTIVE  WAIVER.  Regular meetings of the
Board of  Directors  may be held without  notice of the date,  time,  place,  or
purpose of the meeting.  Written, or oral, notice of the time and place shall be
given for special meetings in sufficient time for the convenient assembly of the
directors thereat. The notice of a special meeting need not describe the purpose
of the meeting.  Notice of a meeting of the Board of Directors need not be given
to any director who signs a waiver of notice either before or after the meeting.
Attendance  of a director at a meeting  shall  constitute  a waiver of notice of
such meeting and a waiver of any and all  objection to the place of the meeting,
the time of the meeting,  or the manner in which it has been called or convened,
except when a director states,  at the beginning of the meeting or promptly upon
arrival at the meeting, any objection to the transaction of business because the
meeting is not lawfully called or convened.
 
            - QUORUM AND ACTION. A quorum of the Board of Directors  consists of
a majority of the number of directors  prescribed in or fixed in accordance with
these Bylaws.  If a quorum is present when a vote is taken, the affirmative vote
of a majority of  directors  present is the act of the Board of  Directors.  The
Board of Directors may permit any or all directors to  participate  in a regular
or special  meeting  by, or conduct  the  meeting  through  use of, any means of
communication by which all directors  participating may simultaneously hear each
other during the meeting. A director participating in a meeting by this means is
deemed to be present in person at the meeting.
 
            - CHAIRMAN OF THE MEETING.  Meetings of the Board of Directors shall
be presided  over by the  following  directors in the order of seniority  and if
present and acting - the Chairman of the Board, if any, the Vice Chairman of the
Board, if any, the Chief Executive Officer, the President, or any other director
chosen by the Board.
 
            5. REMOVAL OF  DIRECTORS.  The  shareholders  may remove one or more
directors with or without cause  pursuant to the provisions of Section  607.0808
of the Business Corporation Act.
 
                                      -7-
 
 
 
 
 
            6.  COMMITTEES.  The Board of Directors by  resolution  adopted by a
majority of the full Board of Directors, may designate from among its members an
executive  committee  and one or more  other  committees  each of which,  to the
extent  provided in such resolution or in the articles of  incorporation  or the
Bylaws, shall have and may exercise all the authority of the Board of Directors,
except such  authority  as may not be delegated  under the Business  Corporation
Act. Each  committee may have two or more members,  who serve at the pleasure of
the Board of Directors.  The  provisions  of Sections  607.0822,  607.0823,  and
607.0824 of the Business  Corporation  Act,  which govern  meetings,  notice and
waiver of notice,  and quorum and voting  requirements,  apply to committees and
their members as well.
 
            7. ACTION  WITHOUT  MEETING.  Action  required or  permitted  by the
Business  Corporation  Act to be  taken  at a  Board  of  Directors  meeting  or
committee  meeting may be taken  without a meeting if the action is taken by all
members of the Board or of the committee. The action must be evidenced by one or
more written  consents  describing the action taken,  signed by each director or
committee  member.  Action taken under this paragraph is effective when the last
director signs the consent,  unless the consent specifies a different  effective
date.
 
            8.  NOMINATIONS FOR DIRECTOR.  Nominations for election to the Board
of Directors  may be made by the Board of Directors  (or a nominating  committee
thereof) or by any shareholder of any outstanding  class of capital stock of the
corporation entitled to vote for the election of directors.  Nominations,  other
than those made by or on behalf of the Board of Directors of the corporation (or
a nominating  committee  thereof),  shall be made in writing to the Secretary of
the  corporation  and  shall be  delivered  to or  mailed  and  received  at the
principal executive offices of the corporation, not less than one hundred twenty
(120) days and not more than one hundred  eighty (180) days prior to the date of
the corporation's notice of annual meeting provided with respect to the previous
year's annual meeting; provided,  however, that if no annual meeting was held in
the previous year or the date of the annual  meeting has been changed to be more
than  thirty  (30)  calendar  days  earlier  than the date  contemplated  by the
previous year's  statement,  such notice by the shareholder to be timely must be
received no later than the close of business on the tenth  (10th) day  following
the  date on  which  notice  of the  date of the  annual  meeting  is  given  to
shareholders or made public, whichever first occurs.
 
            Such  notification  shall contain the following  information  to the
extent known to the notifying shareholder:
 
            (a) as to each person whom the shareholder  proposes to nominate for
election or re-election as a director at the annual meeting:
 
                (i) the name, age, business address and residence address of the
            proposed nominee,
 
                (ii) the  principal  occupation  or  employment  of the proposed
            nominee,
 
                                      -8-
 
 
 
 
 
                (iii)  the class and  number of shares of  capital  stock of the
            corporation that are beneficially owned by the proposed nominee, and
 
                (iv) any other information relating to the proposed nominee that
            is  required  to be  disclosed  in  solicitations  for  proxies  for
            election of  directors  pursuant to Schedule 14A of  Regulation  14A
            promulgated  under Section 14(a) of the  Securities  Exchange Act of
            1934, as amended; and
 
            (b) as to the shareholder giving the notice of nominees for election
at the annual meeting,
 
                (i) the name and record address of the shareholder, and
 
                (ii) the class and  number  of  shares of  capital  stock of the
            corporation that are beneficially owned by the shareholder.
 
            The corporation may require any proposed  nominee for election at an
annual or special meeting of  shareholders to furnish such other  information as
may reasonably be required by the  corporation  to determine the  eligibility of
such proposed nominee to serve as a director of the corporation. No person shall
be eligible for election as a director of the  corporation  unless  nominated in
accordance  with the  procedures  set forth herein.  The Chairman of the meeting
shall,  if the facts  warrant,  determine  and  declare  in the  meeting  that a
nomination was not made in accordance  with the  requirements of the Articles of
Incorporation and this Article II, Section 8, and if he should so determine,  he
shall  so  declare  to  the  meeting  and  the  defective  nomination  shall  be
disregarded.
 
                                   ARTICLE III
 
                                    OFFICERS
 
            The corporation  shall have a Chief Executive Officer who may or may
not serve as  President,  and a  Secretary,  and such other  officers  as may be
deemed necessary, who may be appointed by the directors. The same individual may
simultaneously hold more than one office in the corporation.
 
            A duly  appointed  officer  may  appoint  one or  more  officers  or
assistant officers if authorized by the Board of Directors.
 
            Each officer of the  corporation has the authority and shall perform
the duties  prescribed  by the Board of  Directors or by direction of an officer
authorized by the Board of Directors to prescribe the duties of other  officers;
provided,  that the Secretary shall have the  responsibility for preparation and
custody  of  minutes  of the  directors'  and  shareholders'  meetings  and  for
authenticating records of the corporation.
 
            The Board of  Directors  may remove any  officer at any time with or
without cause.
 
                                      -9-
 
 
 
 
 
                                   ARTICLE IV
 
                           REGISTERED OFFICE AND AGENT
 
            The address of the registered office of the corporation and the name
of the registered agent of the corporation are as may be determined by the Board
of Directors from time to time.
 
                                    ARTICLE V
 
                                 CORPORATE SEAL
 
            The  corporate  seal shall have  inscribed  thereon  the name of the
corporation  and shall be in such  form and  contain  such  other  words  and/or
figures as the Board of Directors shall determine or the law require.
 
                                   ARTICLE VI
 
                                   FISCAL YEAR
 
            The  fiscal  year of the  corporation  shall be fixed,  and shall be
subject to change, by the Board of Directors.
 
                                   ARTICLE VII
 
                               CONTROL OVER BYLAWS
 
            The Board of Directors  may amend or repeal these Bylaws  unless the
articles of  incorporation  or the Business  Corporation Act reserves this power
exclusively  to the  shareholders  in whole or in part, or the  shareholders  in
amending or  repealing  the Bylaws  generally or a  particular  Bylaw  provision
provide  expressly  that the Board of  Directors  may not  amend or  repeal  the
Bylaws, generally or that Bylaw provision; provided however that, in the case of
shareholder  action,  the holders of at least two-thirds (66 2/3%) of the voting
power of all of the then  outstanding  shares of the voting capital stock of the
corporation,  acting  only by voting at a meeting,  will be required to amend or
repeal,  or to adopt any provision  inconsistent  with the purpose or intent of,
any  provision  in the last  subsection  of  Article I,  Section 6  (Permissible
Business at Annual Meetings);  Article II, Section 8 (Nominations for Director);
and this  Article VII.  The  shareholders  may amend or repeal these Bylaws even
though the Bylaws may also be amended or repealed by the Board of Directors.  No
provision  of this  Article  shall be  construed  as  purporting  to negate  the
requirements of Section 607.1020 of the Business Corporation Act.