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is present at or-participates in the meeting of the Board or committee
thereof which authorized the contract or-transaction, or solely because
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his or their-votes are. counted for such purpose. No Director or-officer. '
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of -the Association shalt incur liability. by reason of the fact. that he i
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- is or may be interested.in any such contract or transaction. In deter-
minim the resence of a
g p quorum at a meeting 'of the Board of Directors
of a committee which authorized the-contract or transaction, Directors
interested in such contact or transaction may be counted, -
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ARTICLE XIII
DISSOLUTION OF THEASSOCIATION
-Upon-dissolution of the Tarpon bay Villas-Homeowners Association,
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Inc., the assests, both real- and -persona-1 of _the corporation,- shall be
dedicated to a muni ci pat public-agency or uti 1 i ty to be devoted to :the -
~~purposes insofar as practicable the same as those to which they were
-.intended to be devoted by the corporation. I-n the event that such.
dedi cation- is refused acceptance, such, asset's shall be granted, -conveyed,
and assigned to any non profit corporation; association or-other organ-
ization to be devoted ta-purposes as nearly as practicable, the same as
those to which they were- requi-red to be devoted by-the corporation.
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No such disposition of. Association Nroperty shat-1 be effects-ve to divest
or diminish any right~or-title of any member vested-in .him under the -
rPcorded covenants and deeds-referable: to the Property unless made in
- accordance with the provisions-of such covenants and deeds.- _
The Association may be dissolved .upon a resolution to-that effect -
being recommended by four-fifths (4/5) of-the members of the Board _
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of Directors, and approved by two-thirds (2/3) of-the voting interests t-
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of the Association's members. Dissolution shall be accomplished~in
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accordance with the provisions of the Statutes of the State of Florida
then- i n of#e~~=-~
IN -WITNESS WHEREOF the subscribers have affixed their signaturEs
this. f~~ day of.
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ALBERTA D Y / AN DREW ENRY -
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- BQOK ViG~ P~!rV`f7
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