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ARTICLE V
Officers
5.1 The executive officers of the Association shall be a
President, who shall be a director, one or more Vice
Presidents, who shall be a director, a Treasurer, and a
Secretary (and, if desired, one or more Assistant Secretaries),
all of whom shall be elected annually by the Board of Directors
and who may be preemptorily removed by vote of the directors
at any meeting. Any person may hold two or more offices except
that the President shall not be also the Secretary or an
Assistant Secretary. The Board of Directors from time to time
shall elect such other officers and designate their powers and
duties as the Board shall find to be required to manage the
affairs of the Association.
5.2 The President shall be the chief executive officer of
the Association. He shall have all of the powers and duties
usually vested in the office of president of an association,
including but not limited to the power to appoint committees
from among the members from time to time, as he in his
discretion may determine appropriate, to assist in the conduct
of the affairs of the Association.
5.3 The designated Vice President in the absence or
disability of the President shall exercise the powers and
perform the duties of the President. He also shall assist the
President generally and exercise such other powers and perform ,
such other duties as shall be prescribed by the directors.
5.4 The Secretary shall keep the minutes of all
proceedings of the directors and the members. He shall attend
to the gluing and serving of all notices to the members and
directors and other notices required by law. He shall have
custody of the seal of the Association and affix it to
instruments requiring a seal when duly-signed. He shall keep
the records of the Association, except those of the Treasurer,
and shall perform all other duties incident to the office of
secretary of an association and as may be required by the
f directors or the President. An Assistant Secretary, if there
be one, shall perform the duties of the Secretary when the
Secretary is absent.
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5.5 The Treasurer shall have custody of all property of
~ the Association, including funds, securities and evidences of ,
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indebtedness. Ne shall keep the books of the Association in
accordance with good accounting practices; and he shall perform
all other duties incident to the office of Treasurer.
5.6 The compensation of all officers and employees of the
Association-shall be fixed by the directors. The provision
~ that directors' fees shall be determined by members shall not
p reclude the Board of Directors from employing a director as an
employee of the Association nor preclude the contracting with a
director for the management~of the condominium.
~ ARTICLE VI
Fiscal Matters
6.1 The provision for fiscal management of the.
Association set forth in the Declaration of Condominium and
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