2019-05-22 CC Packet - Laserfiche WebLink

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pursuant to the provisions of the Bylaws, may cast such vote. The voting rights of Owners are more fully described in Section 3 of the Bylaws. 4.5 Declarant Control. Notwithstanding the vote of any Unit Owner to the contrary, the Declarant hereby reserves a period of Declarant control of the Association during which the Declarant, or persons designated by the Declarant, may appoint and remove the officers and directors of the Association. Said reservation of Declarant control is subject to the following: a. The period of Declarant control shall extend from the date of filing of this Declaration until the earliest of: 1) the date Declarant no longer has ownership of any Unit; 2) the date Declarant voluntarily turns over control of the Association to the Owners; or 3) the date on or after the fifth (5th) anniversary of the recording of this Declaration; provided, however, Declarant may retain architectural control over the Units owned by Declarant beyond the period of Declarant Control, as long as it owns a Unit. b. Within thirty (30) days after expiration of the Declarant Control Period, the Unit Owners shall elect a Board of at least three (3) members. Thereafter, a majority of the directors shall be Unit Owners other than Declarant or an affiliate of Declarant. The remaining directors need not be Unit Owners unless required by the Articles of Incorporation or Bylaws. All Unit Owners, including the Declarant and its affiliates, may cast the votes allocated to any Unit owned by them. The Board shall elect the officers. The directors and officers shall take office upon election. C. Except as otherwise provided in this subsection, meetings of the Board must be open to all Unit Owners. To the extent practicable, the Board shall give reasonable notice to the Unit Owners of the date, time and place of a Board meeting. Notwithstanding the foregoing, notice is not required to be delivered to the Unit Owners to the extent the date, time and place of any such meeting(s) (i) are provided for in this Declaration, the Articles of Incorporation or the Bylaws of the Association, (ii) was announced at a previous meeting of the Board, (iii)is posted in a location accessible to the Unit Owners and designated by the Board from time to time, or (iv) if an emergency requires immediate consideration of a matter by the Board. "Notice" has the meaning given in Minnesota Statutes Section 317A.011, subdivision 14. Meetings may be closed to discuss the following: (1) personnel matters; (2) pending or potential litigation, arbitration or other potentially adversarial proceedings, between Unit Owners, between the Board or Association and Unit Owners, or other matters in which any Unit Owner may have an adversarial interest, if the Board 10 Version for Council 05/22/2019