HomeMy WebLinkAbout2257IX
INDEP+fiI I F I CAT I Oy
Every Director and every officer of the Condominium
AsGociation (and the Directors and~or officers as a~ro4r; s:~~l~
b~ in~er.mified by the Condominium Association aQainst all ex-
renses and liahilities. includin~ counsel fees (at all tr:al
an~ appellate leve~s) reasonabl~ incurred by or im~osed T~~on
L._.: ar them in c~nnection with ai~~r proceeding ar litic~ation
er settlement in ~:hich hi: r.Ya~ Uec o~c~ involvecl bv re~~san of
~is ~eing or :iav:n~ been a Direcrcr or officer of the Condor~:r.i~.L^~
'~_~~c=iation. The roregoinf pro~•i::ion: _`or inde~.nificatic~n shall
a~ply w'~ether or not he is a Directr~r ox nfficpr ar t!:e ~:-~~
such expense~ are i^curred. Not~aithstanding the above, in the
event of a settler::ent, the indem~ification provisicns herein
shali not be aucomatic and shatl apply only when the Board of
~irecters (~.~th the affected me;nber abstaining if he is Chen a
r,e;:~ber of the Board of Directors) approves such settlement and
authorizes reir.:bursement for thr costs and expenses of the
settlement as in the best interest of the Condominiur.i Association,
.~nd in instances where a Dfrector or officer admits or is
adjudged guilty of willful misconduct or gross negli~ence in the
~erformance of his duties. the indemnification provisior~s of
these Articles shall not apply. Otherwise, the foregoing rights
to indemnification shall be in addition to and not exclusive
of any and all right of indetmification to which a Director or
officer may be entitled whether by statute, common law or under
t!~ ~eclaration of Condominium.
X
BYLAWS
The Byiati:s of the Condominiur.i Assocation shall be a~opted
by r.he First Board, and thereafter may not be altered, amended,
~- rescinded except by the affirmative vote of not less than two-
thir~, (2/3) of: ~he total votes o£ all Members cast at a
re^ular or s~ecial meet~ng of the !iembership and t~:e affirr.iative
c3:,proval of a najority of the Board of Directors at a regular
~~ sr.ec:al r.eetin^ of the Board of Directors. The ripht t~
~~!i :~ ,~'amend or rescind r.iav be restricted in the r:~~nner provied
i~:: in the E•~la~rs .
}; I
AA~ND~~tiTS
1. Subject to the provisions of Article XI 2 and 3 hereof,
tii~se Articles.of Incorporation m.ay be amended at any meeting
o: t?~e Members by the affirmative vote of two-thirds (2/3)
of the total vo[es of all Members.
2. No amendment shall be made to these Articles of Incorpord-
tion which would in any manner reduce, a~end, affect or modify .
the terms. conditions, rovisions~ rights and obli~ations set
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