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Saction 10. l~asiqnationsz Any director or other officer
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~!may reaiqn his office at a:zp ti~ae. •u~h resiqnation to be mada in
~~Mritinq, and to tak~ eftect lran the tim~e of ite recsipt by the
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~ioorporatio~c~, unleas sa~e time be fiued in the resiqnatfon, and
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i~ then frata that date. ~he--acceptance of a resignation sball not be
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~required to make it effective.
~ ARTICLE IV
I~MBERSAIP _
Section 1. There shall be no stock certificates issuad by ~
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this c~orporation.
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ij S~ctfon 2. Tranafare of inembership shall be made only on
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~(the booka of the corporation, and notice of acceptance of such
~Itransferee as a member of the corporation ahall be qiven in prit-
;iing to such tranaferee by the President and Secretary of the corp-
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;~oration. Tranaferor, in nuch instance, shall aut~omatically no ~
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;~longer be a member of the corporation. Membership in tha corpora-
, ~~tion may be tranaferred only as an incident to the transfer of
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~ !the transferor's condoanini~n parcel and his undivided int~reat ~
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~ in th~ coma?on elements of the condaninium?, and such transfere shal
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~ ',~be subject to the procedures set forth in the Daclaration. ~
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Section 3. Voting Members: That member designated by the
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"awner or awnera, as reco=ded in the public recorde of St. Lncie ~
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~4Connty, Florida, of a vested prasent interest in a sinqle condo- ~
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; mini~ pauccel oaminq the majority interest in sueh _ainqle condo- ~
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~ ! asfaivm parcel, the desiqnation of vhoon ahall be by atata~aent filad~
~ '~rith the Secretary of the Association, in Writinq, siqned under ;
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~oath, and Who ahall cbntinue to caat the vote for all such o~mers ;
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~ '~of interest in a single condoaniniwn parcel until such time aa ~
~ another person is properly deeignated a4 the votinq member by ~
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~ ~those persons or sntities ovninq the majority fnterests in such ~
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~ sinqle condominivm parcel by a similar written, sNOrn statement ~
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~ filed Mith the Secretary. !
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SYDH<Y ADLtR I
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~ w7TORMtY AT LAM . ~
~ 5018-C 1 RN fTRttT N. i
s~tADtMON, rLORIDA I
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