HomeMy WebLinkAbout2336ARZ'IC[,F 7
INDEMNIFICA'PION
Every director and every ofEicer of the Association will
be indemnified by the Association against all expenses and liabil-
ities including counsel fees, reaso~ably incurred by~or imposed
upon him•in connection with any proceeding or any settlement oE 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 of the Assocation, whether or not he is a director or
oEficer at the time such expe~ses are incurred, except when the
director ~r officer is adjudged guilty of willful misfeasance or
malfeasa~ce in the performance of his duties. Provided that in the
event of~a settlement the indemnification will apply only when the
Board of Directors approves such settlement and reimbursement as
being for the best interests oE the Association. The foregoing
right of indemnification will be in addition to and not exclusive
of all other rights to which such director or officer may be
entitled.'
ARTIC'.LE •8
BYLAWS
The Eirst eylaws oE the Associatian will be adopted by
the T3oard of Directors and may be altered, amended or rescinded in
tfie manner provided by said Bylaws.
• ARTICL~ 9
AMFNDMENTS
Amendments to these Articles of Incorporation will be
proposed and adopted in the folowing manner: ~
9.1 Notice of the subject matter of a~roposed amendment
will be included in the' notice of any meeting at which a proposed
amendment is considered.
.9.2 A resolution for the adoption of a proposed
amendment may be proposed either by ~the eoard of Directors or by
the members oF the Association. Directors and members not present
in person or ~by proxy at~the meeting considering the amendment may
express their approval in writing, provi~ing such approval is
c~elivered to the secretary at or prior to the meeting. "
a. Such approvals must be by not less than 75$ of
the entire membership oE the Board of Directors and by not less.
than 75~ of the votes of the entire membership of the Association;
or . ~
~ . ,
~ b. ~3y t~ot less than 80$ of the votes of • the entire
membership of the Association.
- 9.3 Provided, however, that no amendment shall make any
changes in the qualifications Eor membership nor the voting rights
o~ members, without a~pr~val in writing by all members and the
~oinder of all rec~rd owners of mortgages upon the condominiums.
No amendme.~n•t shall be~made that is in conflict with the Condomin-
ium Act or the Declarations of Condominium.
9.4 1~ co~y of each amendment shall be certified by the
Secretary of State and be recorded in the public records of St.
Lucie County, Florida. ~
ARTICLE 10
TEF2M
,.. The term of the Association shall be perpetual.
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