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~ _ ~Pi • o-o i 4 f.~r {f) The presiding officer of directors' meetings shad be the President. In the absence of the President, the directors present shall designate ane of their number to preside. {g) The order of business at directors' meetings shall be, {1) Calling of roll; t2} Proof of due notice of meeting; {3} Reading and disposal of any unapproved minutes; (4} Reports of offi~~ers and committees; {5) Election of officers; {fi) ffnfinished business; {7) New business; and, {8) Ad;ournment. 5. Powers and duties of the Board of Directors. All of the powers and duties of the Association existing under the Condominium Property Act, the Master Deed, the Articles of In- corporation, and these By-laws shall be exercised exclusively by the Board of Directors, its agents, contractors, or Employees, subject only to approval by office unit owners when such is specifically required. ^ompensation of. employees of the Asso- ciation shall be fixed by the directors. A director may be an employee of the Association, and a contract for management of the coadominium may be entered into with a director. 5. Officers. The executive officers of the Association shall be a Fr ies dent, who shall be a director, a vice President, who shall be a director, a Treasurer and a Secretary, alI of whom shall be elected annually by the Board of Directors and who may be removed by vote of the directors at any meeting. Any person may hold two or more offices except that the President shall not also be ~he Secretary or the Vice-President. The Board of Direc- tors may from time to time elect other officers to exercise such powers and duties as the Board shall find to be required to manage the affairs of the Association. Compensation of officers shall be fixed by the Bcsard of Directors. {a) The President shall be the chief ~>>xecutive officer of the Association. He shall have all of the powers and duties which are usually •rested in the office of president of an asso- ciation, including but not limited to the power to appoink com- mittees from among the :nemksers from time to time, as he may in his discretion determine ,appropriate, to assist in the conduct of the affairs of the Association. {b) The vice President shall in the absence or disability of the President exercise the powers and perform the duties of the Fresident. He shall also yenerally assist the President and exercise such other powers and perform such other duties as shall be prescribed by the directors. {c) The Secretary snail keep the minutes of all proceedings of the directors and the members. He shall attend to t_he giving and serving of all notices to the members and directors and other notices required by law. He shall keep the records of the Asso- ciation, except those of the Treasurer, and shall perform all other duties incident to the office of secretary of an asso- ,.i4tinn dnd cos may he required. by the directors or th? President. (d) The Treasurer shall have the custody of all property of the Association, including funds, securities, and evidences of indebtedness, He shall keep the books of the Association in ac~rd:nce with gcsod accounting practices and shall perform all other duties incident to the office of Treasurer. 7. i3ud at and Assessdments. 4a) The Board of Directors shall adopt t- ~39~t far each fiscal year which shall include the eati~tate of. funde~ required to defray common Nxpenses in the ciny fisczil y~r end to provide funds fnr current expenses, Pragt3 3 «f -E Page