HomeMy WebLinkAbout0187 Section 5. Recall: Directors may be recalled and removed
from office with or
w thout cause by the vote or agreement in
writing by a majority of all voting members. A special meeting of
the voting members to recall a Director or Directors may be called
by ten percent (108) of the voting members yiving notice of the
meeting as required in Article VI of these lay-Laws, and the notice
shall state the purpose of the meeting.
Section 6. First Lioard Uirectors: 'The f first Board of
Directors designated in the Articles of Incorporation shall hold
office and exercise all the power of tfie Board of Directors until
the first membership meeting, anything herein to the contrary
notwithstanding; provided, any or all of said directors shall be
subject to replacement by the Developer or, in the event of
resignation or death, as above provided.
Section 7. Compensation: Neither directors nor officers
shall receive compensation for their services as such.
Section 8. Meetings:
(a) The first meeting of each Board of Directors newly
elected by the voting members shall be held
immediately upon adjournment of the meeting at
which they were elected, provided a quorum shall
then be present, or as soon thereafter as may be
practicable. The annual meetiny of the Board of
Directors shall be held at the same place as the
voting members' annual meeting, and immediately
after the adjournment of same;
(b) Special meetings shall be held whenever called by
the President or a majority of the Board of
Directors. The Secretary shall give notice of each
special meeting either personally, by mail or
telegram to each director at least three (3) days
before the date of such meeting, but the directors
may waive notice of the calling of the meeting;
(c) teetings of the Board of Uirectors shall be open to
all unit owners. Adequate notice of all meetings
i of the Board of Directors shall be posted
conspicuously on the condominium property at least
forty-eight (48) hours in advance, except in an
emergency;
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(d) A majority of the Board of Directors shall be
necessary and sufficient at all meetings to
constitute a quorum for the transaction of
business, and the act of a majority present at any
meeting at which there is a quorum shall be the act
of the Board of Directors. If a quorum shall not
be present at the meeting, the Directors then
present may adjourn tl~e meeting without notice,
other than announcement at the meeting, until a
quorum shall be present._
Section 9. Order of Business: The order of business at all
meetings of the 3oard of Directors shall be as follo:~s: .
1. Roll call and quorum determination;
2. Rtac3iny of minutes of last meetiny;
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