Laserfiche WebLink
<br />ARTICLE VIII. <br />DISSOLUTION <br /> <br />The Association may be dissolved with the assent given in writing and <br />signed by not less than the members entitled to cast seventy-five percent <br />(75%) of the votes of each class of members. Upon dissolution of the <br />Association, other than incident to a merger or consolidation, the assets of <br />.the Association shall be dedicated to an appropriate public agency to be used <br />for purposes similar to those for which this Association was created. In the <br />event that such dedication is refused acceptance, such assets shall be <br />granted, conveyed and assigned to any non-profit corporation, association, <br />trust or other organization to be devoted to such similar purposes. <br /> <br />ARTICLE IX. <br />DURATION <br /> <br />The corporation shall exist perpetually. <br /> <br />ARTICLE X. <br />AMENDMENTS <br /> <br />Amendment of these Articles shall require the assenting <br />members entitled to cast seventy-five percent (75%) of <br />membership. <br /> <br />vote of <br />each class <br /> <br />the <br />of <br /> <br />ARTICLE XI. <br />FHA/VA APPROVAL <br /> <br />As long as there is a Class B membership, the following actions will <br />require the prior approval of the Federal Housing Administration or the <br />Department of Veteran Affairs: Annexation of additional properties and <br />amendment of the Declaration. <br /> <br />ARTICLE XII <br />CAPITAL STOCK <br /> <br />The corporation shall have no capital stock. <br /> <br />ARTICLE XIII. <br />PERSONAL LIABILITY <br /> <br />The members of this Association shall not <br />obligations except as provided for and authorized <br />ARTICLE XIV. <br />INCORPORATOR <br /> <br />be liable for Association <br />under the Declaration. <br /> <br />The name and address of the incorporator of this Association is: <br /> <br />-4- <br />