HomeMy WebLinkAbout0948 . ARTICLE XI
SUBSCRIBERS
The names and residence adresses of the subscribers
of these Articles of Incorporation. are as follows:
JACK A. MAC DONALD ANDREW A.-HENRY
951 Colorado Avenue 3166 Pruitt Avenue
Stuart, F1. 33494 Port St. Lucie, F1. 33452
LEONARD POLANSKI RICHARD A. HENRY '
951 Colorado Avenue 224 Datura St., Suite #1015
Stuart, F1. 33494 West Palm Beach, F1. 33401
ARTICLE XII
OFFICERS OR DIRECTORS INTERESTED IN TRANSACTIONS
No contract or transaction between the Association and
one or more of its Directors or officers, ~r between the Association and
any other corporation, partnership, association, or other organization
in which one or more of its Directors or officers are Directors or
officers, or have a financial interest, shall be invalid, void or
voidable solely for this reason, or solely because the Director or
officer is present at or participates in the meeting of the Board or
committee thereof which authorized the contract or transaction, or
solely because his or their votes are counted for such purpose. No
Director or officer of the Association shall incur liability by
reason of the fact that he is or may be interested in any such con-
e
j tract or transaction. In determining the presence of a quorum at a
meeting of the Board of Directors of a committee which authorized the
contract or transaction, Directors interested in such contract
~ or transaction may be counted.
ARTICLE XIII
DISSOLUTION OF THE ASSOCIATION
f
~ Upon dissolution of-the Tarpon Bay Villas Homeowners
Association, Inc., the assets, both real and personal of the corp--
oration, shall be dedicated to a municipal public agency or utility
to be devoted to the purposes, insofar as practicable, the same as
those to which they were intended to be devoted by the corporation. In
the event that such dedication is refused acceptance, such assets shall
r _
~€331~ PEE 948
-8-
i~