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and in which the t;lonies of the Fssociation shall be deposited.
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~~lithdrawal of monies f'rom such accounts shall be only by chec~s ~
signed by such persons as are authorized by the"directors, pro-
vided ~hat a Nanagerr~ent Aoreement may include 3n its provisians
au ~hori ~y in the :~ianager to sign checks on behalf of the assoc i-
ation for payr.:ent of the obligat3.ons of the Assoc~ation.
0.6 Fidelity bonds riay be required by the Board of ~irectors
fo~ all persons handling or resp~ns2ble for Association f~nds in t
such an amount as shall be determined by the r'3oard. The pre:niu*^.s ~
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on such bonds shall be paid by the Association.
6.7 Audit. An audit of the accounts of the Association
may be r.iade f'rom time to time as directed by the Board o~ Directors.
a copy of any audit report received as a result of an audit
" shall be furnished each member of the Association not later
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than thirty (30) days after its receipt by the 3oard. '
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7. Yarliamentary rules. Roberts' F,ules of Order (latest edi~ion) ;
shall govern the conduct of the Association meetings when Incorporation,
; or these By-Laws. -
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8. :.~r~endments. A resolution for the adoption of a proposed ar.:~rri- ;
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ment of these By-Laws may be proposed by either the Eoard of ~irectors
of the ~.ssociation or by the members of ~he Association. ;fer~bers
may pro~ose such an amendment by instrume;~t in writing directed
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to the President or Secretary of the Board signed by not less than ~
ten (10~) percent of tY~membership. Amendments r:iay be proposed by
the Board of Directors by action of a ma~or~3.ty of the L'oard at any
regularly constituted meeting thereof. Upon an amendment bein~
proposed as herein provided for, the President or, in the even~ of
his refusal or failure to ac~, the Board of Directors, shall call a
zleeting of the membership to be held within sixty (60) days for the
purpose of considering said amend;nent. Directors ar.d r.:embers r.o~
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present in person or by proxy at the meeting considering the amend:z:en~
m.ay express the3r approval in writing, providing such approval is
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delivered ~o the Secretary ~t or prior to the meeting. :xcept as i
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elsewhere provided, such approvals must be either by: ~
(a) iv`ot 2ess than tvro-~hirds (2/3) of the entlre
rr.embership of the ~ard o~ Directors and ty not less
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Li~YI Gri1CE5 OF GCLDSTESN. r=RANXLiN. GNONiN $ SCHRANK, P. A., 2C20 hGRTHEAST 163Rti STREET, NOR7H MiAMt G~ACH. F..OR1~.1 33;L2