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ARTICLE VI
OFFICERS
Section 1. The principal officers of the Corporation shall
be a Presi ent, a Vice President, a Secretary, and a Treasurer,
all of wham shall be elected by and from the Board of Directors.
The Directors may appoint an assistant Treasurer and an assistant
Secretary and such other officers as in their judgment may be
necessary. All offices but the President and Secretary may be
filled by the same person. No compensation shall be paid to
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.
Section 2. The officers of the Corporation shall be elected
annua ly by the Board of Directors from among its members 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 herein-
- above or hereinafter provided.
Section 3. By an affirmative vote of a majority of the
members of the Board of Directors, any officer may be removed,
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 of 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
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 VIZ hereof) to Unit Owners or their
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