HomeMy WebLinkAbout1444 shall be oo~fined to subjects stated in t~'~e notive th~seof.
Sectian 6• Waiv~er at~d ~?sent • Wl~er~ever the wte of inembers at a
meetirig is requir+ed ar pe~Ymitted bY- ~Y P~isian of the statutes, the Articles
of Inoarpo,rativn, the Declaratian, ar of tt~ese By-Laws, to be tak~en in varu~ec-
ti~ori with any action of the co~rpo~atio~, the meeting and wte of inembers' may
be c~ispensed ~rith if alI the nrembers wha would ha~ve beeri er~titled to wte ~on
the actioci if such meeting w~re ]~ld, shall vo~nt in writing t~ such acti~
bei.ng tak,en-
Sectian 7. Adjourned meeting. If any meeting of inenbers cann~t be t
arganized because a nu~arun of Vating Msnbers is not p~esent, either in perso~
~ bY PY'~Y. ~ meeting may be adjoiuned fran time to time until a quoxvn
is p~resent.
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Secti~ 8. Prwiso. Provided, 2ww~rer; that u~til Cessatiori of Sales ~
there shall be no business meet3.ng of msnbess of the Association unless th~ere is ~
a meetinq cal.led by the first Baard of Direcb~rs of the Associatian. S1ich a meet-
.ing may be called far the p~urpose of ex~tering into a nanagen~nt a~t with the
Dev~elopez in o~d~er ~ pravide vontinuity of managem~t.
ARTIQE 111. DIR~L'IO~?S .
Sec~.ion 1. Tne Board of Directiors shal.l ooa~ist of three menbPSS p~ior
t~ Gessatiori of t and nine manbers thereafter. At the first o~rp~rate
lneeting all nine Directats shall be eleCted, three for temros of one year. thtee
of twa-year tern~s, ar~d three for three-y~ar t~. 'l~ereafter, at each annual
meetinq of the ~ership, th~e directatships of tl~ose wl~oae tenr~s have expired
~Z ~ elected from the v~Dting menbers far a period of three years; it being
the intent that there shall be three Direcbors elected at each annual maobership
meeting for a period of three years. Each msnber of tY~e Board of Directors, other
than the initial Boarri, sha11 be either the Owryer of a thzit ar an Owner of an
int~x~st therein.
Sectian 2. First Board of Direcbors
(a) The first Board of Directars, wY~ shall serve until t~eu suvoessors
have be~l elected and qualified (see Article 11, Section 8), shall oonsist of the
following:
W. W. Carr (a/k/a/ W. Wayne (:azr)
T. N. Miller (a~lc/a/ Tracy N. Miller)
M. ~i~ sooK201 ~E1442
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