HomeMy WebLinkAbout1951 6.5. Assessments for emerqencies. Assessments ~
for common expenses of emerqencies that cannot be paid from
the annual assessments for common expenses shall be made only i
after notice of the need for such is given to the unit owners
~ concerned. After such notice and upon approval in writing by
persons entitled to cast more than one-half of the votes of the•
unit owners concerned, the assessment shall become effective,
and it shall be due after 30 days' notice in such manner as the
board of directors of the Association may require in the notice
of assessn~nt.
~ 6.6. The depository of the Association shall be
such bank or banks as shall be designated from time to time by
the directors and in which the moneys of the Association shall
be deposited. Withdrawal of moneys from such accounts shall be
o~ly by checks signed by such persons as are authori.zed by the .
directors.
6.7. An audit of the accounts of the Agsociation
shall be made annually by a certified public accountant, and a
copy of the audit report shall be furnished .to each member not
~ later than April 1 of the year following the year for which the
~
~ audit is made.
~ 6.8. Fidelity bonds may be required by the board
~ of directors in its discretion from all persons handling or re- ~
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sponsible for Association funds. The amount of such bonds shall
be determined by the directors. The premiums on such bonds shall
~ be paid by the Association.
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