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should he be more than 30 days delinquent in the payment of an assessment
and said delinquency sha11 automatically constitute a resignation effective
when such resignation is accepted by the Board of Direct~rs.
Section 6. Reuular MeetinQS. The Board of Directors may
establish a schedule of regular meet~nqs to be had at such time and place~
as the Board of Directors may desiyriate. Notice of such regular meetings
~ha11 nevertheless be given to each Director• personally or by mail, telephon
or teleqraph, at least five (5) days prior to the day named for such meetinq.
Section 7. Special Meefiincts. Special meetinqs of the Directors
may be called by the President and must be called by the Secretary at the
written request of one-third of the votes of the Board. Not less than five
da.ps' notice of the meetinq sha11 be given personally or bq mail, telephone
or teleqraph, which notice sha,l.l staLe the time, place and purpose of the
meeting. -
Section 8. Directors' Waiver of Notice. Before or at any
meeting of the Board of Directors, any Director ~may waive notice of such
meeting and such waiver shall be deemed equivalent to the giving of notice.
Attendance by a Director at any meeting of the Board sha11 be a waiver of-
notice by him of the time and place thereof. If a11 the Directors are
present at any meet~ng of the Board, n+o notice sha,ll be requir~d and any
business may be transacted at such meetinq.
Section 9, orum . At all meetinqs of the Board of Directors
~ a majority of the Directors shall. constitute a quorum for- the tra.nsaction of
business, and the acts of the majority of the Directors present at such
~ meetings at which a quorum is present shall be the acts of the Board of
I7irectors. If at any meeting of the Board of Directors there be less than a
quorum present, the majority of those present may adjourn the meeting from
~ - time to time. At each such adjourned meeting any business which miqht
ha.ve been transacted at the meetinq as oriqinally called may be transacted
without furfiher notice. The joinder of a director in the action of a meeting
by signing and concurring in the minutes thereof shall constitute the presenc
of such Director for the purpose of determininq a quorum.
Section 10. Compensat,ion. The Directrors' fees, if any, a:~all
be determined by the "Vot,inq Members".
Section 11. Powers and Duties. ~
The Board of Directors sha11 ha.ve the powers and duties necess
for the administrati~n of the affairs of the corporation and may do all such
acts and things as are npt by law or by the Declaration of Condominium or b
these Ly-La~vvs directed to be exercised and done by the unit owners. - These
• powers sha11 specifically include, b~ut sha11 not be limited to, the followinq:
(a) To egercise a11 powers specifically set forth in the Declara- ~
tion of Condominium, in these By-Laws, the A,rticles of Incorporation of
this Corporation, and in the Condominium Act, and all pwers incidental
w. R. scorr thereto.
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