HomeMy WebLinkAbout0839 6.~3 Acc~l~•r_~t.lc,n c>t ~~~,:.~~~Siu~~nt 1(i~t.,ll,n~~il~t; ~~~3~:~? l~ t~ult.
If ~ condominiurn unit ow~~er sh~ill bc: in dar~ult i~: Ct:~~ f~~.y?n~:nt
of dn installment upun an as~essn?ent, the tsc,:~r~i ot Uic~;,tors may
acceler~t~ th~ rtm~ining instalL»ents of th~ asse ~sm~~ni ~ipon
notice to th~ condominiuin unit o„n~er, .~nci tt~a the:~ ur:N~.i~i ~alance
of the ~ssc:ssment sh.ill V~ due u~~on tt«: d~ tc. stat~:d i n th~ notice,
but not l~ss than fiv~.~ (5) ~i.sys .~ftc~r c~aliv~•ry of tt,~ r~otica to ~
the conciominium unit owner, or not ]~5s tt~:~r~ ten ;lUj ~iays ufter
the mailing of such noticc: to hi~n by r~~ist.~r~-d or c~ri.itied
mail~ wl?ichever shall first occur.
6.5 Th~.~ de~~ository of the A:~sc.ci~ti~n st?all Le s~?ct~_ b~nk
or banks as shall b~ desiynat~d fro~,i time t~~ Lime Ly tl:e directors
and in w~~icti th~ m~nies ot th~ Associatior~ ;h~ll b~- ;ie~.osit~d.
Withcirawa~ of monies from such accounts si~all be only i,y checks
signed by such p~:rsons as .ar~ autt?oriz~d ~y ttie dirc:~t~.rs,
provided that a Managem~nt Agre~m~nt m~y in:.lude in it~ provisions
authority ir? the Manager to sig~ ch~~cks on ~ehalt of t~?e E~ssocia-
tion for payment of the obligations of th~. As~oc~ati~.r~. K
; 6.6 ~iclelity bands m~y be requir~d by the E o.~r~:a ~f I)irectors ;
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~ for all persons handling or responsible f~~r Assoc iaticn funds in }
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; such an amount as shall be d~termined by tt?~~ 13~a~ d. 1h~ f~remiums ?
€ on such bonds shall be Naid by tha Associatio~~.
~ 6.7 Audit. An audit of the accounts of th~• h~~~cciotion may
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t be n~~dc frorn time to tim~ a~~ directad by t}~~: ~3oa-~d ~f vir~_ctors.
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F ti capy at any audit rc:port r~ceived us ~ r~sult ,~f ~~i audit
~ shUll be furr?ished ~:ach memt~~:r of the AsSOCiatioj~ nc;t l~ter than
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y thirty (30) ddy~ atter its r~c~:ipt Ly thc: I'.oarcl.
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~ 7. ~~~rli~~in~r~tai-y ru1~:5. Ko~erts' ttules ut Urcic~ (lale:.t edition)
f shall yovcrn th~: conduct of tt?e ASsociati~n mE-~t.ings Nher? ln~.e,rpcration,
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or th~:se By-Laws.
= f3. fvn~~ndm~nts. A r~sc~lution fc r the adc~E,Lic~n c.r a p~~oE~~~sed
amendrnent of these By-L~wS m~y b~: prc.E~o_.ed by eitt?er the f3~~ar~1 of
Directors af the Associ~tion or by the memt.erl ,~f ~hE As~.c~.iation.
c Members may propos~ such an amendiner:t by ir~strwuer~t in w~ i tiny di rected
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= Boo~ 223 ~E 839
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