The Board of Directors
Section A. Powers & Duties
The Board of Directors shall constitute the governing body of the Association and is empowered to act in representing the Association in all matters, including, but not limited to the following:
The Board of Directors shall:
(1.) Have the authority to borrow funds, to mortgage, pledge or otherwise encumber the assets of the Association as security for the properties of the Association, together with the right to assign, as further security, assessments due or to become due to the Association, which total amount of indebtedness shall not exceed 50% of the annual maintenance fees;
(2.) At the next regularly scheduled Board of Directors meeting following the Annual Meeting of the membership, select a President, one or more Vice Presidents, a Secretary, and a Treasurer;
(3.) Have the power to appoint such other officers and agents and to hire such employees as may be necessary for the carrying out of the purpose of this Association;
(4.) Appoint, or authorize the President to appoint, from their own number or from members of the Association, such committees as not stipulated by these By-Laws as the Board deems necessary to carry on the affairs of the Association, and shall define the powers and duties thereof. Said committees shall hold office at the pleasure of the Board.
(5.) Have such powers as are set forth in these By-Laws or as are necessary and incidental in carrying out the general affairs of the Association and the Declaration of Restrictions, except as herein prohibited.
Section B. The Board Composition
The Board of Directors shall consist of one Director representing each of the following subdivisions:
Grand Point Highland Hills Westdale
Grand View Cherry Park Plaza
Maquago Hills Greenbriar Laguana Park
Indian Hills Lakeview Crystal Estates
Royal Shores Fairway Hills Highland Green
Section C. Requirements of Directorship
(1) Directors shall be a property owner in the subdivision to be represented; however, if there are no nominations from the said subdivision the Directorship shall be opened to the general membership for a one-year term;
(2) Directors shall be a member in good standing as set forth under these By- Laws;
(3) Members on the Board shall be restricted to only one member of an immediate family;
(4) Directors shall have reached the age of majority before the Annual Meeting at which he or she seeks office;
(5) Membership on the Board of Directors shall be limited to only one member or associate of any corporation, company, agency, business or other commercial enterprise or organization.
Section A. Powers & Duties
The Board of Directors shall constitute the governing body of the Association and is empowered to act in representing the Association in all matters, including, but not limited to the following:
The Board of Directors shall:
(1.) Have the authority to borrow funds, to mortgage, pledge or otherwise encumber the assets of the Association as security for the properties of the Association, together with the right to assign, as further security, assessments due or to become due to the Association, which total amount of indebtedness shall not exceed 50% of the annual maintenance fees;
(2.) At the next regularly scheduled Board of Directors meeting following the Annual Meeting of the membership, select a President, one or more Vice Presidents, a Secretary, and a Treasurer;
(3.) Have the power to appoint such other officers and agents and to hire such employees as may be necessary for the carrying out of the purpose of this Association;
(4.) Appoint, or authorize the President to appoint, from their own number or from members of the Association, such committees as not stipulated by these By-Laws as the Board deems necessary to carry on the affairs of the Association, and shall define the powers and duties thereof. Said committees shall hold office at the pleasure of the Board.
(5.) Have such powers as are set forth in these By-Laws or as are necessary and incidental in carrying out the general affairs of the Association and the Declaration of Restrictions, except as herein prohibited.
Section B. The Board Composition
The Board of Directors shall consist of one Director representing each of the following subdivisions:
Grand Point Highland Hills Westdale
Grand View Cherry Park Plaza
Maquago Hills Greenbriar Laguana Park
Indian Hills Lakeview Crystal Estates
Royal Shores Fairway Hills Highland Green
Section C. Requirements of Directorship
(1) Directors shall be a property owner in the subdivision to be represented; however, if there are no nominations from the said subdivision the Directorship shall be opened to the general membership for a one-year term;
(2) Directors shall be a member in good standing as set forth under these By- Laws;
(3) Members on the Board shall be restricted to only one member of an immediate family;
(4) Directors shall have reached the age of majority before the Annual Meeting at which he or she seeks office;
(5) Membership on the Board of Directors shall be limited to only one member or associate of any corporation, company, agency, business or other commercial enterprise or organization.
