HomeMy WebLinkAbout1154
Section S. Recall: Directors ma}• ~e recalled and removed
_ from office with or witt~out cause by the vote or agreement in
writing b~- 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 (10$) of the voting members giving notice of the
meeting as required in Article VI of these By-Laws, and the notic'e
shall state the purpose of the meeting.
Section 6. First Board of Directors: The first Board of
Directors desic;nated~in the Articles of Incorporation shall hold
off ice aeid exerc~ise all the power of tt~e eoard of Directors until
the first membership meeting, anything herein to the contrary
not~~ithstanding; provided, any or all of said directors shall be
subject to replacement by the Developer or, in the event of
-~ resignation or de~th, as above provided.
' Section 7. Compensation: Weither directors nor offieers
shall receive compensation for their services as such.
Section 8. Meetings:
(aj The first meeting of each f3oard of Directors newly
elected by the voting members shall be held
immediately upon adjournment of the meeting at
Mhich they~ were elected, provided a quorum shall
then be present, ar as soon thereafter as rnay be
practicable. The annual meeting 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 w~henever called by
the President or~ a majority of the IIoard of
Directors. The Secretary sha]1 give notice of each
special mQeting either personally, by r-ail or
telearam to each director at least three (3) days
before the date of such meeting, but the directors
rr~ay waive notice of the callinn of the meeting;
(c) Ffeetings of the Beard of Directors shall be open to
all unit owners. Adequate notice of all meetings
of the B~ard of Directors shall be posted
cons~icuausly on the condorainiu:~ property at least
fort}~-eight (48) hours in advance, except in an
emergency. t~otice of any mecting where assessments
against unit owners are scheduled to be considered
shall specifically contain a statement that
assessments will be considered and the -nature of
any such assessments;
(d) A rr,ajority of the Board of Dii-ectors shall be
necessary and sufficient at all meetings to
cor~stitute a quoru~r, for ~he transaction of
business~ 31'1G~ the act of a i:ajority present at any
meeting at which there is a vuorum shall be the act
of the Board of Directors. If a yuorum shall not
be present at the rreeting, the D~rectors then
present may adjourn t~~e meeting without notice,
other ttian announcement at the meeting, until a
qu~rum shall be present.
Section 9. Order of Business: The order of business at all
meetings of the Board of Directors shall be ~s follows:
1. Roll call and quorum determination;
2. Reading of minutes of last meeting;
" E- 2
6~x 346 ~d~E 1151
a
~ ' . . _..Yai ~ ,~.. ~.~_ "__~.._ .-. _. - _ _ _ -