HomeMy WebLinkAbout2240 aslist lo th~ adaia~siraiion o~€ ~~ii vp:r~ii~w :isv ::~:s:.--.:~~
th~ C01iDOMINIIA~. ~nd th~ at~ti:s ot t~~ COAPOMTION. and anr such
p~rsoa ot •otitr war b• so nplor~d vithout r~sard to ~h~th~r
such p~rson or ~~titY • ~e~b~r of tA~ Co:por~tion or • Ditectos
or o~licer oi tA~ Corporatfon, •s tAs cas• ~ay be.
VIII.
Th~ nwb~r o! ~~~bers of the ~irst l~oard of bir~ctors o~ tb~
Coiporation shall be three. Th~ nwb~r o!'~eab~rs of succs~dia~
Boards of Dit~ctors shall be •s pro~ided fro~ ti~e to ti~~ by tt~~
ar-Lara o~ th~ Corporation. The ~es~b~rs o~ t?~~ Board o! D~r~ctots
shall b~ •l~ct~d br the ~~~b~rs of th~ Corporatioa at tbe /lanual
t~~tin~ of the M~~bership ss provided by t~e Hy-~awa ot the Corpo•
:~~~e~n£ ~nd ~t l.ast a ms~orit~? of the Boatd of Dir~ttors shall b~.
s~sb~ss o! th~ Cosporation or sball b• anthoris~d r~pres~ntati~es.
ottit~rs or ewplorees of a eorporate no~ber of the Corporetion.
Notwiths~andinR the fore~oin~, so 2onQ as S L M OBYELOPA1E~t'f CORPORIITIOI~i
~~~~in ~all~d "DEYELOPER" !s th~ oxner of ten or aore PP.?VATF DMELLIHGS
ia tD• COHD~1?IIyItI'~, DPIIELOPPR s?~all have ths ri~ht to desita~Le
aAd s~l~et ~ najority of ths p~rsoas M?~a sh~ll s~tvs as ~ssb~rs
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o! •acb Dostrd o!` Dirsctors o! th~ Co~rporation; and •o iona ss ~
OBVBLOPER is th~ owrtsr ot at 2~ast one, but not ~ors thaA t~n (10~
PRIYATB•DMBLLINGS~ DEV~L4PEA s}~all hare the right to deal~net• ~nd
~a2act on~ ot Lhe perscns Yho ~hall servs as a ~a~Rber of each l~oa:d
o! Dir~ctor~ ot tt~s Corpora?t~oA. The DEVELAl~ER ¦ay d~signate and ~
s~l~ct th~ p~rsoA os persons to serre as a wember or •a~ab~rs of
~acb safd Doatd of Dlrectors fn ths ~anner proYided in tt~e Br•LaMs
o! tb• Cosporation.
IX.
'Phe Board of Oirectors sbA11 at the.tim~ of t6e Annual *1s~tin~
and aft~r tbeir election by Lh~ ~'ee~ber~ af tha Corporation. conrsn•
and th~r~upon •lect a PTesident~,Secretary and Tr~asvr~r, and as
~anr Yic~ Pr~si~enta, Assistant S~cr~tariss and Assistant Ti~as• ~
uY~ss as th~ Boasd of Dirsctors shall dstersine. The t+resident
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