pf_02229 - Laserfiche WebLink

Home

ARTICLE XI. BOOKS AND RECORDS The books. records and papers of the Association shall at all times. during reasonable business hours. be subject to inspection by any member or first mortgagee. The Declaration. the Articles of Incorporation. the Bylaws of the Association and current financial statements of the Association shall be available for inspection by any member at the principal office of the Association. where copies may be purchased at reasonable cost. ARTICLE XII. ASSESSMENTS As more fully provided in the Declaration. each member is obligated to pay to the Association annual and special assessments which are secured by a continuing lien upon the property against which the assessment is made. Any assessments which are not paid when due shall be delinquent. If the assessment is not paid within thirty (30) days after the due date. the assessment shall bear interest from the date of delinquency at the rate of eight percent (8%) per annum. and the Association may bring an action at law against the owner personally obligated to pay the same or foreclose the lien against the property. and interest. costs. and reasonable attorney's fees of any such action shall be added to the amount of such assessment. No Owner may waive or otherwise avoid liability for the assessments provided for herein. ARTICLE XIII. CORPORATE SEAL The Association shall not have a corporate seal. ARTICLE XIV. AMENDMENTS Section 1. These Bylaws may be amended, at a regular or special meeting of the members. by a vote of a majority of a quorum of each class of members whose voting rights have not been suspended. present in person or by proxy. provided that the additional consent required by ARTICLE VII. Section 4 of the Declaration shall be required by any action specified therein. The procedure to amend the Bylaws shall be: (a) the Board of Directors may propose the amendment to the Bylaws by resolution setting forth the proposed amendment and directing that it be submitted for adoption at a meeting of the members; or (b) any five (5) members may set forth a proposed amendment by petition by them subscribed. which petition shall be filed with the Secretary of the Association. Notice of the meeting of the members, stating the purpose, including the proposed amendment. shall be given to each member entitled to vote on the proposed amendment. and to each officer and director regardless of his or her voting rights. If notice required by this clause has been given. the proposed amendment may be adopted at any meeting of members by majority of a quorum of members present in person or by proxy. together with the additional consent required by the Declaration. as provided above. -7-