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B. To carry out all of the powers and duties vested in
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it pursuant to the Declaration of Condominiums and By-Laws of ~
the condominiums and the regulations of the condominiums. ~
~C. The corporation shall be authorized to exercise and
enjoy all of the powers, rights and privileges granted to or ;
conferred uoon corporations of similar character for the pro-
visions of Chapter 617, Florida Statutes, and Chapter 711,
Florida Statutes, and to do any and all of the things r,ecessary
to carry out its operations as a natural person might or could do.
D. 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 employee or for other
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 and the Director
to receive said compensation shall not•be permi.tted to vote on said
compensation. The Directors shall have the right to set and pay -
all salaries or compensation to be paid to officers, employees or
agents or~attorneys for services rendered to the corporation.
E. All funds and titles of~all interest in property ac-
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~ quired by this corporation, whether fee sir,?ple or leasehold in
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~ na~ure and the proceeds thereof shall be held in trust for the owners
~ of the condominium parcels in accordaace with the provisions of
the Declaration of Condominium and its supporting documents.
F. All of the powers of this corporation shall be subject
to and shall be exercised in accordance with the provisions of
the Declaration of Condominium together with its supporting docu-
ments which govern the use of the land to be operated and ad-
ministered by this corporation.
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G. The corporation shall not be authorized to ma e any
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~ unreasonabl.e accumulations of cash or assets as determined by ~
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~ the Internal Revenue Code or the Rules ~~nd Regulations enacted
pursuant thereto.
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