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(c) tie may be required to give the Association a bond
in a sum and with one or more sureties satisfactory
to the Board , for the faithful performance of the
duties of his office, and the restoration to the
Association, in case of his death, resignation or
- removal from office, all books, papers, vouchers, !
money or other property of whatever kind in his z
possession belonging to the Association.
Section 8. - Vacancies: If the office of the President,
Vice-President, Secretary or Treasurer, one or more, becomes
vacant by reason of death, resignation, disqualification or
otherwise, the directors, by a majority vote, may choose a
successor who shall hold office for the. unexpired term.
Section 9. Resignations: Any director or other officer may
resign his off ice at -any time-, such resignation to be made in
writing, and to take effect from the time of its receipt by the
Association, unless some time be fixed in the resignation, and
then from that date.
ARTICLE IV
POWERS t~tiD DUTIES OF THE ASSOCI~TIOI~
The Association shall have all powers granted to it by law,
- the Declaration of Condominium, the Condominium Act, and the
Articles of Incorporation, all of which powers shall be exercised
by its Board of Directors, unless the exercise thereof is other-
wise restricted in the Declaration of Condominium, these By-Laws,
or by law. The powers of the Association shall include, but not
be limited to, the following:
(a) To levy and collect regular and special assessments
and to establish the method and time- within which
payments are to be made;
(b) To expend monies collected for the purpose of
paying the common expenses of the Association;
(c) To.purchase equipment, supplies and material
` required for the maintenance, repair, replacement,
. operation and management of the condominium
~ ~ property;
~ ( d ) To insure and keep insured the buildings and
improvements of the Condominium as provided for and
limited by the Declaration of Condominium;
(e) To employ the personnel required for the operation
of the condominium property;
(f ) To make reasonable rules and regulations for the
use of the condominium property and to amend them
from time to time, and see to it that all members
are notified of such changes in the rules and
regulations as may be enacted;
( u ) T^ . ~ Tprove the condom in iu:n propert}~ subi ect to the
limitations of the Declaration of Condominium;
(h) To enforce by any legal means the provisions of the
Irticles of Incorporation, ti:F By-LaY,s, the
Ceclaration of Condominium, and the regulations
promulgated by the Association; -
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