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<br /> �`�'���;;y'1�'';7�,�: �
<br /> , �:, �epN�s. replseMtnt�rd reator�lton o# the Cw�f tlr�i�e������or other easeuatty -
<br /> •� �;-.. th�othe�provislona of these By'lert. �fter dan�epe��tn�{s.
<br /> -' `"-.`'r"``� '' or n •�esutt of eartaw►�tian o�uirnr►t dan�i�pr
<br /> _�.�i' =iR
<br /> � �� .�:•:t"..' �r:... _ ._ ..
<br /> ,, p..... ; ;•. .� a n.�mina A4^A4 cRd MtIl"�.._RLd �.
<br /> ,.,• ,,•;�n � - -
<br />.,`,�.?�''.�.' n..��,' :` ---- °
<br /> Th� Boatd ot Adelniatretors�y e�ploY tor the Cadoefo� s��+���6e�� as t��p�of
<br /> . eoepe�w�lian est�blichod by the Bosnd ot Adminlstratoro, to pe — . -
<br /> RGiiniot�atora el�elt �uthoriu, includt�but�ot ltmtted to ths dutles listed in abdlivteiaia te1� �e). td).
<br /> �p) and th) of 8ectian 2 of this A�tfcte tU. Th�BoaPd of A3sin�otrotore M+y detep�te to the�neIIt� or �__�
<br /> . " ' �yi�g a�ent.�ll of the po�ers oraMed to the BoeM ot At�einist�etors by theao 8y-L�wa othe�then tAe p�e�e �-- - -
<br /> .. .>,,:; :., s e t fo�th In si8dtvinfora <b). te). ard �f>. of Seation 2 of tMa ArNele tt t. v-�-
<br /> �a�.,
<br /> �.�° -... ---
<br /> • w,- --=--- __ _
<br /> " �„ , � tia+4 ELeatlon etXLLRt1R.
<br /> .v�ss:__
<br /> At the first errM+sl nestir�of the llsaoeietion, the�bers of tAe Board of Adninietrotore ahetl be �',�
<br /> � , • rovided thet if seid�ext bmuel meotie+� ��_--- _
<br /> � eleeted to aerro unttl the next ennwt meetinp of tha Assxiation; p a:,,__--,--
<br /> ,: . "'��`-
<br /> 1s less then aix (b) aontha f�om the dste ot the fia:.e aain�l �eeti�9� the Admtetst�atore shetl be aleetcd xo �;.:-..�..,-„�
<br /> t�;:�.�:` ---_--
<br /> tterve until the emual meeting t�aaedistely folloate4�4RQ neut am►u�l meeNng�thf� ia tese then six(6)m�aQha ''`'1=�±+l-
<br /> fn the future. Eoeh A�fniatrator shetl 6e elecRed Rh�reofter to serva a YESw af one ti) Y�a� or o�sia6l Ixis
<br /> ' sueeeasoe ahell heve bees�duty�eleeted bY���fA4�0�' AdaeinfatPatcra�Fealti 0e elected bY mIari¢y vo4e -`p=='�.
<br /> ' of the rt�embera, YAera @�fer�as+s vo4o i�ae eas[t saui¢o �n R(�a eo�ieeim. : . -.-•
<br /> ��:;"�'.',�'
<br /> �., g Rex�oxat mg►��irtf atratar� '"�`;,►Dr����---
<br /> ,� :.:.{��;;•'`r'� �'-,:•.:::-.., —
<br /> .,'rl�� � At e�Y ���r pF s,p�cial maeting of tbe Assoeiotion, enY orte QP�a°'e of 4tttc3��04 tha Gcard of
<br /> � + �'�',.��� , Y1tQ1 0l' Ylthout teYBe EY e vote of e rneju�ity off Q�e�0os8 and a suceessor msy ,,•,�,.�,. �_
<br /> lir;,:��,�1�. .. AdniotetratoeB maY� � '�--`_
<br /> then arad QQ!rro or thereafter be eleeted t�fill tfi e�i�im��i��s sehdall be 9i�eas�oneble ewti e of � �`
<br /> Administragoes efiose removel has been Pro� bY �„p�,;:-�-.
<br /> � end en oppo�t�nitY to be heard et the meeting. ,,.:�=. _--
<br /> . . �tioa� 6 Vaceneies. '` ��r-
<br /> YB�;ea;�tAe goerd of Adainistratora caused bY anY��0�other than the re�mvat of a me��ber thereof r •
<br /> .i..;y�;
<br /> � � by a vote of the Aasxiation shall be filled bY vote of a msjority of the remaining Adminiatratore at 4he , �t_.
<br /> Se tl after the xcurrence of arry su�h "� ti"
<br /> �
<br /> � ' speeiel meeting of the 8oerd of Administratora held fo� that purFw P�'�P Y . �r
<br /> ••� �et sueh meetin9�Y e�citute lesa than a quonm, end eaeh pe�e°^ao ,,,�_
<br /> --.r-- n.
<br /> .,, vaeencY. even th o u� iha s�-a�rs pres!�+ .._ _ ,,,,
<br /> . �,�:.'��� ' elected ehoil be e me�er of the eoard of Adminiatrators for the remai r d e��f tha ierm et Llte sr�^f ��� _' , ._
<br /> ,;�`:-��.�^� end until a suceeaso� shall be elected at the next anrwal meetine of the Association. ...
<br /> ;f. �.�'��,�,�r,,,u
<br /> �i:��,.�•:.`:. .
<br /> }:�4
<br /> ,S•i�''�`�,;','� �,ectian 7 �rrw•°t Bourd Neetina. •
<br /> �'.`c�%•• The onnual meetit�of the meubers of the Boerd ef Admin9sxrators shell be held imnediatety follm+irq
<br /> , '1,,;.. ..
<br /> �,.:..;, the annue4 aee4in9 of the Assoeietion. at auch tima e^d plaee as shall be fixed by the Aesociation at the
<br /> meeting a4 Nhich such Board of Acininis4rators shall have been e�e�4ed�e^d�o^°tice ahell bs ne��8'vidtng a ��
<br /> newty eleeted met�ers of the eoard of Adninistrators in order to LegallY constitute such meoting, p `
<br /> majority of the whole Board of Admfnisirators shall be present thereat. ,
<br /> • g�;+�,o Saecial Board Meetitms. "1���;'
<br /> 'k. �}.
<br /> Special meetings of the Boerd of Adninistratore mey be called bY the President�wn five (5> 6usiness 3.,.;� �
<br /> deys' notice to eech mx�ber of the Board, 9i��W"�i�. �ich notice ahalt stete the time, plece, ard purpose . . . � ��
<br /> {e► meetings of the Boerd of Attninistrators shelt be called by the President o�Seeretary ;,. �. >.s;•��;,,�,-
<br /> of the meating. Spec �'•%'; "/
<br /> ' ;� tike marv�er and like natiee on the written request of at least three �3�th�itten rtequest o'f the i ; •' � �•� �
<br /> rs, in whfeh event, upon ;��«, � �;��
<br /> 1►alninistrators. er►less there are lesa ihan three <3) mertbe ;
<br /> orte or two remaining. � .,'�'''�, ;
<br /> ��Q o yniver of Notice. . , , ; .
<br /> � "- at arry time, waive notiee of any a�eeting of ihe Boerd ,:, _• ' .
<br /> Any mertJ�er of the Boerd of Administrators may. ;�elent to the 9ivirtg of such notice. �,;�'.��`,
<br /> ,,:r�4��, of Administrators in writing, ard such waiver shall be deemed e�N �,``,. ,
<br /> f
<br /> Attendance bY a menber of the Boa�d of Admi�istrators at any meetin9 of the Board shall constitute a waiver of , ,l,[,
<br /> . I �^�iee�i i rvgi of the Boe d no rwt ice shel t be requi redhe�a�n�Yr��^�g "�y � t ansaet d t�sueh m et;�g t et
<br /> �
<br /> ';s��Y, � Section l0. ouorun. ;
<br /> •�. ���"�� At all meetings of the Board of Adniniatrators, a malority of the membera thereof ahall constitute a
<br /> • ,� yupnsn for the transaction of busineas, arvd the votes of a malority of the merchcrs of the 8oerd of
<br /> pdninistrators present at a meeting at ahich a quorun is present shall constitute ihe deeis9on of the Boaed of �
<br /> Adninistra4ors. lf at any meeting mf L�e Board of^pcin��sLtme��o time.s At any such adjourndent e p�h�hte •
<br /> a majar9ty of those preseni mey adi=u-m the mee: 9
<br /> , qtpnm is present, any business whicn might hava aeen transasted et the meeting ori�inally catled, meY b�
<br /> transected without further notice.
<br /> . . seetion 17 Fidetitv eonds.
<br /> the Board of Administrators maY obtain adequete fidetity �s for all officers anci e�loyees of the � - � '- �
<br /> . ASSOCisCion RendliRg er responsidle for Association funds. The premi�arts on suct�bonds shall :anstitute a eamnon '7; • .
<br /> expense. ��
<br /> _ Sget;oe ta eorroersecTOn.
<br /> . .. --:��:�
<br /> tto mer.ber of the 6oard of A�ninistrators shall receive any canpensation tran[ne nssociaiivr� 7�� �
<br /> es suck, Qxeept that me�nbers shall rxeive reiRbursecrtent for expenses ecivally incurred by then as
<br /> lt�f rti sErators.
<br /> � ^--ticn 73 Liabilitv of AcOministrators.
<br /> the mertbers of the Board of Administrators shall �ot be liable to che suite ouir�ers for any mistake of
<br /> � i j���g� ��;9�g� or otherN�se, except for their o�n irdSvidual willful �niscondua or bad faith. The
<br /> mertbere of the BoaM of A�nin9stracors shell have�o personel liability uith respect to any contraci made by
<br /> them on behalf of the AssocSatio�. Every agreement made by the Board of 0.dministrators or by the maru�ging agent
<br /> " or by the manager on bel+alf of the Association sfielt provide that the�rs of the Board of Ad+ii�istrators
<br /> , or the mana9i�H �6�� °i8b��ity"the�eu de�he case maY be, are acting onlY as agc�nts for the Assxiation end
<br /> , shell have rto pe
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<br /> • ; EXHIBIT "A" 3 of 10
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