HomeMy WebLinkAbout0848ARTICLE X
AMENDMENTS
Section l. A majority of the Board of Directors or a
majority of the voting members may propose alterations, amendments
to, or the rescission of these Articles, so long as the proposals
do not conflict with the Condominium Act or the Declarations. Such
proposals shall set forth the proposed alteration, amendment, or
rescission; shall be in writing; shall be filed by the Board of
Directors or a majority of the members and shall be delivered to
the President of the Association, who shall thereupon call a
Special Meeting of the members not less than ten (10) days nor
later than thirty (30) days from receipt of the proposed
amendment, the notice for which shall be given in the manner
provided in the By-Laws. An affirmative vote of two-thirds (2/3)
of the Board of Directors, and an affirmative vote of three-
fourths (3/4) of the members of the Association shall be required
for the adoption of the proposed alteration, amenc7ment or
rescission.
Section 2. Any voting member may waive any or all of the
requirements of this Article as to notice of proposals to the
President of the Association for the alteration, amendment, or
rescission of these Articles. Such waiver may occur before, at or
after a membership meeting at which a vote is taken to amend,
alter or rescind these Articles in whole or in part.
ARTICLE XI
INDENIIdIFICATION OF OFFICERS AND DIRECTORS
Every Director and every Officer of the Corporatiaon shall be
indemnified by the Corporation against all expenses and liability,
including counsel fees, reasonably incurred by or imposed upon him
in connection with any proceeding to which he may be a party, or
in which he may become involved, by reason of his being or having
been a Director or Officer at the time such expenses are incurred,
except in such cases wherein the Director or Officer is adjudge~
guilty of willful misfeasance in the performance of his duties;
provided that in the event of any claim for reimbursement or
indemnifica~ion hereunder based upon a settlement by the Director
or Officer seeking such reimbursement or indemnification, the
indemnification herein shall apply only if the Board of Directors
approves such settlement and reimbursement as being in the
interests of the Corporation. Such approval shall be made by a
majority vote of a quorum consisting of directors who were not
parties to such proceedings. The foregoing right of
indemnification shall be in addition to and not exclusive of all
other rights to which such Director or Officer may be entitled.
~ ARTICLE XII
TRANSACTIONS IN WHICH DIRECTORS OR OFFICERS ARE INTERESTED
Section l. No contract or transaction between the Associa-
tion and one or more of its Directors or Officers, or between the
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