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~R?~C~S Y
DIRSCT0~3 ~ OFI~TCERS
1. ?he nusber ot membera ot tYr Firat Board o! Dir~etor• i
of ths Corporatioa shall be three (3~ • Z'hs nno~ber ot ~e~-
bera of aucceeding Board of Directora a2~all be ae pro~ided
from time to time by the B~-LaMa ot the C~rporation. The
members of the Board of Directora ahall be elected b~ the '
members of the Corporation at the Annual IKeeting o! the menber-
ship as provided by the By-Lar• of the Corporation, and at
least a ma~ority of the Board of Directora ahall be menbers
of the Corporation or shall bs authorised repreasntatirs,
officers, or emplo~ees of a corporater me~ber of the Cor-
poration. NotxiLhatanding the foregoing, eo long aa
Developer is the o~ner of ai~c ( 6) or more Pri~rata D~ellinga
in INLET HOUSE CONDCMINIUM APARZ~+IEATS, INC., aaid De~eloper
shall have the right to deaignate and select a a~a~orit7 of
the persons rho shall serve as meffibers of each Board of
Directors of the Corporation; and ao long as th~e ssid
De veloper is the rnmer of at least one (1) but not more i
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i than five ( 5) Private DKellings, the said Developer shall
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~ have the right to designate and select ttro (2} of the
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~ persons ~?ho shall serve as a member of each Hoari of Directors
~ of the Corporation. The said De~eloper may deaignate and
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select the person or peraona to serve as member or members ~
of each said Board of DirecLors in the manner proYided in the ~
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By-LaNS of the Corporation. ~
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~ 2. The Board of Directors shall elect a President, ~
~ Vice President, Secretary and Treasurer, and as teany Aaaia- ~
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~ tant Secretaries and Assistant Treasurers as the Board of ~
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Directors shall determine. The President shall be elected ~
v~' from a.mong the membership of the Board of Directors, but no
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~ other officer need be a Director. The same peraon ~a~ hold tMo
~ offices, the duties of xhich are not inco~patible; pro~idsd, _ ~
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~ horrever, that the office of Presideat and Yice Prssidsnt shall f
.
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not be held by the aaee pereon, nor ahall t~e oflics ot t~
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° ~ 190 972
BOOK
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