HomeMy WebLinkAbout1102 officers for their services as officers. Compensation may be paid
to an officer in his or her capacity as an employee or for other
services rendered to the Corporation outside of his or her duties
as an officer and only under the same~cfrcumstances as authorized
above in the provisions hereof relating to directors.
Section 2. The officers of the Corporation shall be elected
annually ~y tTie Board of Directors from among its members at the
annual meeting of each new Board and shall hold office until the
next annual meeting of the Board of Directors or until their
successors shall be duly elected and qualified, except as herein- `
above or hereinafter provided.
Section 3. By an .affirmative vote of a majority of the
.members o t e Board of Directors, any officer may be removed,
either with or without cause, and his successor elected at any
regular meeting of the Board of Directors or at any special
meeting of the Board called-for such purpose.
Section 4. The President shall be the chief executive
officer o t e Corporation. He shall preside at all meetings ,of
the Corporation and of the. Board of Directors. He shall have all
of the general powers and duties which are usually vested in the
office of President of a corporation, including, but not limited
to, the power of appointing committees among the members from
time to time as he may, in his discretion, deem appropriate to
assist in the conduct of the affairs of the Corporation.
Section 5. The Vice President shall perform all of the
duties of President in his absence and such other duties as may
be required of him from time to time by the Board of Directors. .
Section 6. The Secretary shall issue notices of all Board
of Directors meetings and meetings of the membership and shall
attend and keep minutes of the same which minutes shall be kept.
in a book available for inspection by Unit Owners, or their
authorized representative, and board members at any reasonable
time and which minutes shall be retained for a period of not less
than seven (7) years; he shall have charge of all corporate
books, records and papers; he shall be custodian of the corporate
seal; he shall attest with his signature and press of the corporate
seal all contracts or other documents required to be signed on-
behalf of the Corporation and shall perform all other such duties
as are incident to his office. The duties of the assistant
Secretary shall be the same as those of the Secretary, in the
absence of the Secretary.
Section The Treasurer shall have the responsibility for
Corporation unds and securities and shall be responsible for
keeping full and accurate accounts of all receipts and disbursements
in books belonging to`the Corporation. Such books shall be open
to inspection by Unit Owners or their authorized representatives
and Institutional Mortgagees of Units at reasonable times and
written summaries of which shall be supplied at least annually
(as provided for in Article VII hereof) to Unit Owners or their
authorized representatives. Such books and records shall include,
but be not limited to, those items required by the Condominium
Act. He shall be responsible for the deposit of all monies and
other valuable effects in the name and to the credit of the
Corporation in such depositories as may from time to time be
designated by the Board of Directors. The duties of the Assistant
Treasurer shall be the same as those of the Treasurer, in the
absence of the Treasurer.
t
f
-8- #
y