HomeMy WebLinkAbout0652 are duly elected'and qualified, or until they are removed in the
manner elsewhere provided.
- Section 3. In the event of a vacancy occurring in the
Board of Directors for any r.eason whatsoever, prior to the first
Monday in February, 1979, or prior to when the developer elects
to terminate his control of the condominium, whichever shall first
occur, the remaininq directors shall elect a person of legal age
to serve as a director for the unexpired portion of the term of the
former director. In the event of a vacancy occurring in the Board
of Directors for any reason whatsoever a~ter the f irst Monday in
February, 1979, or after the developer elects to terminate his
control of the condominium, whichever shall first occur, the
remaining directors shall elect ane of the members to serve as a
director for the unexpired portion of the term of the former
director. -
Section 4. After the first Monday in February, 1979, or
after the developer has elected to terminate his control of the
condominium, whichever shall first occur, a director may be removed
from office with or without cause by a vote of the majority of all
condominium parcel owners at any regular or special meeting duZy
called. At said meeting a successor may then and there be elected
to fill the vacancy thus created. Any director whose removal has
been proposed by the members shall be qiven an opportunity to be
heard at the meeting.
Section 5. No compensation shall be paid to directors
for their services as directors. Compensation may be paid to a ~
director in his or her capacity as an officer or employe~ or for
otrer services rendered to the corporation outside of his or her
duties as a director. In this case, however,~said compensation
must be approved in advance by the Board of Directors ~nd the
~ director to receive said compensation shall not be permitted to
vote on said compensation. The Directors shall have the right to
set and pay all salaries or compensation ~o be paid to officers,
empZoyees or agents or attorneys for services rendered to the _
corporation.
Section 6. The first meeting of a newl,y elected Board
of Directors shall be held within ten (10) days of ele~tion at
such place as shall be fixed by the Directors at the meetinq at
which such directors were elected and no notice shall be necessary
E to the newly elected directors in order to legally constitute such
; meeting, providing a majority of the whole board shall be present.
~ Section 7. Regular meetings of the Board of Directors
may be held-at such time and place as shall be determined from time
to time by a majority of the Board of Directors, Notice of regular
meetings of the Board of Directors shall be given to each Director-,
personally or by mail, telephone or telegraph, at least five (5)
days prior to the day named for such meeting.
The directors may establish a schedule of regular meetings
to be held in the office of the corporation and~no notice shall be
required to be sent to said Directors of said regular meetinqs,
once said schedule has been adopted.
~ Section 8. Special meetings of the Board of Directors may
be called by the President on five (5) days' notice to each Director,
given personally or by mail, telephone or telegraph, which notice
~ shall state the time, place (as hereinabove provided} and purpose
of the meeting. Special meetinqs of the Board of Directors shall be
~ called by the President or Secretary in like manner and on like notice
~ on the written request of at least five (5) directors.
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~ Section 9. Before or at any meeting of the Board of
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