HomeMy WebLinkAbout2050 8.2 Directors of the Aseociatian shall be elected at the
annual meeting of the membere in the manner provided by the Bylaws.
llirectors .:wy be removed and vaeanciee on the Board shall be filled in
the manner.provided by the Bylaws.
8.3 The first election of Directors ~hall nat be held until
Ft. Pierce Construction Corporatiaa~, e Floride coxporation, hereafter
call~d the "Developer", has closed the salee of ali of the Condominium '
Units~ or until the Developer elects to terminate its cantrol of the
Asaociation, or until the annual membership meeting in November, 1977,
whichever oceure first. The Directors rwmed in these Articles ehall
serve until the first election of directors, and any vaeanciee in off ice
occ~urring before.the first election shali be filled by the remaining
Directors.
8.4 The names and addresses of the members of the first
Board of Directors who ehall hold office until their successors are
elected and have qualified, or until removed, are as follows:
D. J. HELLER 6009 So. Indian River Dr.
Ft. Pierce, Florida
HUBERT HURST 1010 Tennesaee Avenue
Ft. Pierce, Florida
i MARI.YS A. HELLER 6009 So. Indian River Dr.
Ft. Pierce, Florida
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ARTICLE IX
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~ Every llirector and every officer of the Association shall be
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~ indemnified by the Association againet all expenses and liabilities
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~ including counsel fees, reasonably incurred by or imposed upon him in
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~ connection with any proceeding or the settlement of any proceeding to
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which he rnay be e perty, or in which he may become involved by reason
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~ of his being or having been a director or officer of the Association,
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~ whe-ther or not he is a director or officer at the time surh expenses are
`z; incurred, except when the direetor or offieer at the time such expens~s
are incurred ie ad3udged guilty of willful misfeasance or malfeasance
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in the perfozmance of his ~ties. The foregoing right of indemnification
- shall be in addition to and exclusive of all other rights and remedies
to which such Director or Officer may be entitled.
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