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<br /> Se+.Liur. ' rinne i v a cnc and kznaaer. � �,-
<br /> � � .j She 2c°rd c.` A�inietratok'�s aay empivy for the Conaominis a managing agent iuid/or a msnaqer a: a � � �;i"�`
<br /> ��, �a�.7eraont'_en �stablioY,c� by the Soa_d�n� 31d.^i:.ie`t�'.^:a, �c per,`ox'm su�ti. dutier• ar.d�ncs�a.ces. as the Soasd a! w�.��•���r,y;�'
<br /> � � i " ir.qiudin �c: nvt liri..ted ta the dut.i.eo liatad in eubdiyi.9iona (e)� (c)� (d)� (gJ ��f:'%���;�:7r
<br /> • .�i�toLratnXo ahal_ autho-:.ze, g
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<br /> � � ar.ca (h) of sactien 2 nf. t4ix article ZSI. The 9oa:d of Adainiu�rstore c�ay delegate tb the manaqvr or wn77nging �� 7��?��5
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<br /> .,gc�nt, a.11 cf tha powe�e qrnnte,3 tb Yh. 8oard of AcL;.iaistrato�n by tLese Sy-:,ave othez'than Cha prnanre pet °oxth n r
<br /> ' _r au6divinionn (b)� (el, nad (f�� nf seetion.2 0£ tS:�e xr�icl.� Z:.I- � �
<br /> ��•�.r��y'�.
<br /> ; y
<br /> � sectian a. .�c�ioa and T-rm. '�^��,�..
<br /> � �. " ^�Eira� ancua7. ceetir.g o: �h� Aseoc'_atznn, th= �e�bess of �hc 8cacd �£ Adm.taistratars �hell ba ����
<br /> � � elpcte� to aorve ::r.til �hv aext ar.ruai ^.^at��g of th� 7+aeccia��u�; p�evided �haY if eaid nexc �nnupl mceLinq is � ��'i.
<br /> �, ;,nnc �t4an ¢ia (5} rr,nthe fra: the date o: :he firat anr.::al nzeti^5� ths F�3'aznietratoXe ehall be alactad `.o serva �'°� "���:�
<br /> � until tne annua7. t=ceting iz:aediately follo�tinq thc r.ext anr.ual aeeting which is lebe �han six (6) montha ia the �. �:%.
<br /> � £u�ure. ^n�c:� �cL.^�inz9txntor ahall b� elected t�^°eafCer to arrve a tem af ane (1) yeaz ox until hi6 eucceeeor �
<br /> � � � � �hnll ha�•e been duly alectad by tha Aneociati.on. Ad-'niniutraTC:n shall be eleeted 6y tt.ajozity:ote o�the membora� �Y��
<br /> � �he�a b-ing ❑ne va_o £or ea�h fluite 1n !`e (:anda:ni�ia. �
<br /> ��
<br /> � Sectio:: 5. __ncr✓al oz Ad."-.inistr3tars. � �
<br /> ry ��.�,
<br /> �� � At auy �egular pr opecis2 ��eting oE tha :.asnciat�on� any one ar wvze oE the merbera a£ tL� Hoa.cd of '���
<br /> �..'y+t4:��.
<br /> � :.c1.51nis°.�E�cozs m.ay Fe teracved with oz without caue� �oy- a vo�e vf a majori.ty af the �embers and a, euece�sar to.�y �� -'�;,
<br /> ' then cind the�e or theren£ter be aler-ted to fi il :ha vacar.cy thue cFeated. Anjr membexe of the Sa�cd of y�
<br /> '
<br /> Ad.^iinie:rhtpFa whoea :e[aovnl haa been pzopoeed by tho Aaea-iatian o+anere eha.17. be given zeaaon�le naticW of aad ,:!�ti+''�
<br /> . �j � an oppartuni:y t� bo Year3 at the mee:inq- ���
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<br /> Sn,cticn 6. Vacan�iee� � ����r.
<br /> l'�'v
<br /> ����; :.. ;:
<br /> % Vacanciee zn the f3oard of �iaiatrntvzs caueed by any reauan att.cr Lhan tha cec++ovul af El memhmr thexeof "r�.
<br /> .�.j by a vote a£ tho aasociatlon ahall be £Slled 6y vota ef a aajority oE tho rr.waini.ng A�in�ntFatore at khe apetial w��'tii;
<br /> � raeeti.nq oE tha Bonrd of fidminiatratore held for that purpoee- pro�ptly aftaY Che xcuYranee of sny eueh vaeanCy� �Y_.�i.,;.
<br /> �Y even thpugh the mambdr.e preeent aY auch rieeting may aonatit�Ce 7.pes than n quan:m� etld each peYeoa eo •lect/x1 �`'�° '
<br /> � .���� ehnll be �memder of the Aoaxd of Admiai.eCratorn £os the resaintieX af the texm af the xembex eo trmoved aiv�until r ���
<br /> a accceeaor she11. be electefl at the next annual meeking o� tha Aeaor_zatien. � � ���^�
<br /> �'�".• dr�:
<br /> ; ��,�h��„
<br /> � .'j ❑action 7. Anr.uel soard Heetin . ��F��
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<br /> � . � � �.y��:.*`�
<br /> � � ' iha annusl meating af the membera oE Che�onr�i aE Ac�^iinintratara ahall be held immediataly falla�ring the �r��•*
<br /> i� +.
<br /> � � ����� unnual x+.eeting of thn AaeociatiUn, a� e�ch t£me and place ae nhnll be fixe�.' by the Aeevcieti.oa at tha meeting at �� �
<br /> k.,�ia:..:
<br /> �� Which nach 8oaxd of Adminzxtratore ehall have been elected� and no ncYZCe shall}x neeeeanry to tha newly aleeked p:_�.;js�.,.,,�
<br /> -� �� nembare of the avard of AdminieYratorn in ozdcr tc legzlly conetituta auch meeting, pravidinq a mnjority af the
<br /> . 1 vhole Ronrd of AdminintratoYd nhnll be pYesent thereat_ !
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<br /> . . � ��I t y.:�,�:...,
<br /> ��;� Sr_ctio�8. S�Cial Board_Meetinqe• "
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<br /> ..,� special cieetir.gc or the Soacd of Ad�inzatrators may �e called by the Pteeident upon tive (5) bueineea
<br /> . �` �'ays' na:�C- `o anch :aemher of the Spazd, given by ^ail, rhic'� aotiae shall sCnYe tha tirao� place� sad purpoee
<br /> ' � �� a� ��e r.,ee�ina. special ree`i�ge of the Saazt3 of AcYvir.istta'�rn ohnll `ae ealleZ by tha P�oeidenL nr Seexetnry ��
<br /> ��� � ��� ir: like ^anr.er ar.d like notiCe on the v:ci:ten reciueet of a' l�aet three (3) r.teubera of the Boaxd o#
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<br /> . .. .�� :.r;ministratars� unlcas thr.z'e ¢re leeo the� th�ee �3) iar.mSera� zn which event� apon the arittea ze�quest o: the one .
<br /> � ox :wo remairang. .
<br /> ;
<br /> 5ectioa 9. wni�pr of I�oY.ir.r.- .
<br /> y � "
<br /> � .�j Anf mamhex of the Soazd oP Adair.isCraSOSa aay� a! aay ti�e� uaive natice bf er.y meatinq oF tha Hoe�x'7 of
<br /> � Admin:,etretora in wt7.ting� and such vai.ver ehnll be deemed equivalent to tha giviag of auch aotiee. Attandanra �
<br /> � �� by a membnr �f the Aoard of Adz�inieYiatore aC nny seeting of the Hoard ahall tot7at!*-ute n aaives of not=ce to him ..
<br /> � �� � ���f of tha t,ime and place thazHOf. If all the meabern of the Avaxd of Adminietretora axe preeent et any meetiing af �
<br /> �� the sonrd� no notice ekall be requzied and any 6uainexs aay be traneacted at euc3 meeting.
<br /> ��
<br /> j
<br /> . , p Section I0. .Quanar� � , � �
<br /> ����4 at a11 raectir.gs of the Soard of �iniatratora� a c+ajazity of. the �members theraof shnll raElatitute a ��� . �
<br /> ; � 3 c�orur.� Fer the trannatYZan of 6ueineae� and Cha voCee of a asjority nf the me�be;e of the Haerd of AdminietraCa[e � �
<br /> � � •� prnnent nt a meeCing eC which n q�orun ie psenent nhall conatitu�n cha docieian af <he Board vf Adarinietiptpra. �
<br /> . � { if at any mnr_tinq ai the Bonrd �f Adminiotratora thera shall be ].�^ee than a quarum �zenent, a majority ot thoee .
<br /> � pre�ner.t, may a3jcurn Chc mea"ing frcn tine `o time_ At any nurh adjoutnmetit� at which a quotum ie preeent� any
<br /> � buninegn which n!ight have bann tranancter] at tho mneting originnlly ta11Ad, zray bo tYSnnatted withcut further
<br /> , .� noCica. . . � .
<br /> � . ��� w Snetion 11. Fi.del.�tV 8ondn. � � . �
<br /> � . �,:.�.i �
<br /> '� � � Tha Sonzd of A3mininttatvsa nny o6tain edequat� Sidelity 6ond�, fo� nll ofSito[e and nmp7.ayene of tha � .
<br /> . .. Aeexiation harzdling or reeponei6la for Reeaai.ation fur.da. 3ha pretaiuzle o:7 eu�h,Eo:ide nhall tonetitute a cammaa . ��
<br /> .. � � expeaao. � • .
<br /> �,� � � seetion 12. CumpnRAaCion. ' �
<br /> � � i No mem6or nf L•ho Loa=d of Admi.nzntxnCaXp nhall rcceivn any ccu�pnr.aa.Son Lrm tho nanociation far actinq � �
<br /> ,� as unch, nx��pt tliut c;^_mbore ohnll raceiva reinburacraent tcr�Ypm:aee act�,ally incuzrQd By thee�nn Ad_�niniatratore. �
<br /> ' �:ec�.iar. 13. I.i.nS:_Li� o.`. Aam�.nl.�tra^nYn� � . ..
<br /> �� Tha s.eobaru n: tlie Soard of A�ninic�tratern c:tull nat Cv liu�le to the eUito r.w:.n.e Por any mietake a:
<br /> i
<br /> jud?mnnt� neqliqencc, a=o'taexwi.ne� excnpt f.or thhl.r own indmvidval willfui iuiaconduct nc�a�] iaith. The mem6ara
<br /> ; n!; thn Pnard ai Ad:�ir,zut.atore ehnll have no pr.r.rsnnnl :inhi,lit� wiCh rnopact to any contXaCt �rde Ly t!�em on
<br /> �{ behxl.f oE Ch.e l.aevca.atinn. Every agrcement nade �y the nnard of Adainiutratora vt hy tha rianaging aqonC or 6y
<br /> � � � t tho :*-nnaget nq 6ahn1E o£ .h� AgdnC�.ation ahall prwid� tFct the mr.c�beY�o nf thn Sonrd af AdminietraYors o[ tha
<br /> �� �� �si.nngina agnnt� or thv mannger, an tho caam m�y be, nre ecrinq or.ly an agont• for the A�aocLMtion and nhall hnve � �
<br /> � r,o pareaqnl li.ability Lhazaundor.
<br /> � �� SnCinr. :S- S.�rF6:�eio� e+`_ Suriedl�i.on._
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