HomeMy WebLinkAbout1264(j) to contraet for the managemcnt or opc•ra~ion
of p~rtions of the common elements susceptiblc• to
separate man~gement or operation;
(k) to employ personnel to perform the s~rvices
rcquired for proper operation of the condominium;
(1) to delegate or contract for the performance
of its-powers and duties where delegation is not
specifically prohibited.
3. All funds and the titles of all properties acquired
by the corporation and their proceeds shall be held in trust
for the shareholders in accordance with the provisions of the
Declaration of Condominium. these Articles of Incorporation.
and the By-Laws.
4. The powers of the corporation shall be subject to and
shall be exercised in accordance with the provisions of the
Declaration of Condominium and the By-Laws.
ARTICLE XIII - Shareholders
1. The shareholders of the corporation shall consist
of a1Z of the record unit owners in the condominium, and after
termination of the condominium shall consist of those who are
shareholders at the time of such termination and their successors
and assigns.
2. Change of ownership of any shares shall be established by
the recording in the publie records of St. Lucie County. Florida,
of a deed or other instrument establishing a record title to a
unit in the condominium and the delivery to the corporation of
' a certified copy of such instrument. the owner designated by such
instrument thereby becoming a shareholder of the corporation.
The interest of the former shareholder shall be thereby terminated.
3. The share of a shareholder in the funds and assets
of the corporation cannot be assigned~ hypothecated or transferred
in any manner except as an appurtenance to his unit.
4. In all elections of the corporation, each unit shall "
have a designated number of votes proporti.o*+~te r.o the nercentage
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