HomeMy WebLinkAbout1725 Afte~ the p~operty described in Article II has
bee~ submitted to Condominium ownership by the filing
of the Declaration of Condominium the By-Laws may be
amended, altered. supplemented, or modified by the mem-
bership at the annual meeting, or at a duly convened
special meeting of the membership~.attended by a majority .
of the membership, by vote, as follows:
A. If the proposed change to the By-laws has ~e- `
ceived the unanimous approvat of the Board of
Directors then it shall requi~e only a maJo~ity
vote to the membership to be adopted.
B. If the p~oposed change has not been approved
by the unanimous vote of the Board of ~i~ectors.
~ then the proposed change must be approved by .
a three-quarter (3/4) vote of the membership;
provided, however, that (1) p~ior to the first annual meet-
ing af the nembership, the By-Laws may not be amended with-
out the approval of the Board of Directors, unless the pro-
posed ame~dment shall be filed in writing with the Sec~eta~y .
or President, not less than ten (10) days prior to the mem-
bership meeting at which such amendment is to be voted upon.
Persons become members of the Association by the purchase
of units (lots) in the Condominium and continue as members
for so long as they continue to own such units (lots).
ARTICIE X
Amendments to these Articles of incorpo.ratio~ may
be proposed by any member or Director, and shall be adopt-
ed in Lhe same manner as is provided for the amendment of
the By-Laws. as set forth in Article IX, above. Said Amend-
ment(s) shall be effective when a copy thereof, together
~ with an attached certificate of its approval by the members,
~ sealed with the Corporate Seal, signed by the Secretary o~
~ an assistant Secretary, and executed aAd acknowledged by
E the President or Vice President, has been fiied with the
~ Secretary of State, and all filing fees paid.
~ ARTICLE XI
This Corporation shall have all of the powers set
forth i~ Chapte~ 617.021, Florid~ Statutes, 1965, and all
of the powers set forth in the Condominium Act of the State
of Florida, and all powers granted to it b~ the Oeclaration
of Condominium and Exhibits annexed the~eto, to which the
By-Laws of this Association are attached and made a part
thereof.
~ ARTICLE XII
~ There shall be no dividends paid to any members, ~
~ nor shall any part of the income of the corporation be
distribute~ to 3ts Boa~d of Directors or Officers. In the
~
~ event there are any excess ~eceipts over disbursements, as
~ a resuit of performing services, such excess shall be
applied against future expenses, etc. The Corporation may
~ pay compensation in a reasonable amount to its members,
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