HomeMy WebLinkAbout1299 officers for their services as officers. Compensation may be paid
to an officer in his or her capacity as an employee or for other
. services rendered to the Corporation outside of his or her duties
as an officer and only under the same circumstances as authorized
above in the provisions hereof relating to directors.
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Section 2. The officers of the Corporation shall be elected
annually ~y tie Board of Directors at the annual meeting of each
new Board and shall hold office until the next annual meeting of ~
the Board of Directors or until their successors shall be duly
elected and qualified, except as hereinabove or hereinafter
provided. .
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.Section 3. By an affirmative vote of a majority of the
members o the Board of Directors, any officer may be removed, C
either with or without cause, and his successor elected at any
regular meeting of the Board'of Directors or at any special
meeting of the Board called for such purpose.
Section 4. The President shall be the chief executive
officer of the Corporation. He shall preside at all meetings of
the Corporation and of the Board of Directors. He shall have all.
of .the general powers and duties which are usually vested in the
office of President of a corporation, including, but not limited
to, the power of appointing committees among the members from
time to. time as he may, in his discretion, deem appropriate to
assist in the conduct of the affairs of the Corporation.
Section 5. The Vice President shall perform all of the.
duties of President in his absence and such other duties as may
.be required of him from time to time by the Board of Directors.
Section 6. The Secretary shall issue notices-ot all Board
of Directors' meetings and meetings of the membership and shall
attend and keep minutes of the same which minutes shall_be kept
in a book available for inspection by. Unit Owners, or their
authorized representative, and board members at any reasonable
time and which minutes shall be retained for a period of not less
than seven (7) years; he_shall have charge of all corporate
books, records and papers; he shall be custodian of the corporate
seal; he shall attest with his signature and press of the corporate
seal all contracts or~other_ documents required to be signed on
E behalf of the Corporation and shall perform all other such duties
as are incident to his office. The duties of the assistant
Secretary shall be the same as those of the Secretary, .in the
absence of the Secretary.
~ Section 7. The Treasurer shall have-the responsibility for
Corporation funds and securities and shall be responsible for
keeping full and accurate accounts of all receipts and disbursements
~ in books belonging to the Corporation. Such books shall be open
~ to inspection by Unit Owners or their authorized representatives
and Institutional Mortgagees of Units at reasonable times and
.written summaries of which shall be supplied at least annually
(as provided for. in Article .VII hereof) to Unit Owners or their
authorized representatives. Such books and records shall include,
but be not limited to, those items required by the Condominium
-Act. He shall be responsible for the deposit of all monies and
other valuable effects in the name and to the credit of the
Corporation in such depositories as may from time to time be
designated by the Board of~Directors. The duties of the Assistant
z Treasurer shall be the same as those of the Treasurer, in the
absence of the Treasurer.
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