BY-LAWS, PAGE 3. SECTION 7a. Officers duties
(continued).
of authority, may perform any duties
duly appointed by the Board of Directors. The Secretary shall keep the
corporation’s books, registers, and any other evidence as to the owners in
The Treasurer shall
have custody of the corporate funds and shall keep full and accurate accounts
of the receipts and disbursements in books belonging to the corporation, and
shall deposit all monies and other valuable effects in the name and the credit
of the corporation in such depositories as may be designated by the Board of
Directors. The Treasurer shall disburse the funds of the corporation in the
manner and for the purpose ordered by the Board of Directors, taking proper
vouchers for all such disbursements, and render to the Board of Directors,
whenever it may require it, an account of all his/her transactions as Treasurer
and the financial condition of the corporation, and any meeting of the Board of
Directors, he/she shall render such reports as deemed necessary. The Treasurer
shall perform such other duty as the Board of Directors may from time to time
prescribe.
ARTICLE III. Finances.
SECTION 1. Assessments.
The assessment for
carrying out the purposes of this corporation shall be recommended by the Board
of Directors and voted on by the membership.
SECTION 2. Annual levy.
The Board of Directors
shall by resolution determine the amount of funds required to carry the intent
of this corporation and shall submit said proposal for ratification by majority
of the membership. The Board of Directors shall have the power to levy a
delinquency charge on unpaid assessments from the thirty-first (31) day after
said bill is due. Said delinquency charge shall not exceed one percent (1%) per
month. In the event any legal action is necessary to collect said assessments,
members agree to pay court costs and reasonable attorney’s fees.
SECTION 3. Bills.
After the levy has
been established, the Board of Directors shall cause individual bills to be
mailed to each member and shall receive payment thereof.
ARTICLE IV. Miscellaneous.
The corporation shall
have a corporate seal as required.
SECTION 2. Miscellaneous
Powers.
The Board of
Directors shall have all powers lawfully granted to
SECTION 3. Rules and
Regulations.
The Board of
Directors, with the ratification of the majority of the membership, may make
rules and regulations controlling and prescribing modes of conduct concerning
the common areas.
SECTION 4. Amendments.
The Board of Directors may recommend changes or repeal of these By-Laws for vote of majority of the Membership.
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