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ARTICLE
1
Name. The name of this non-profit corporation is SWISS VILLAGE EAST
PROPERTY OWNERS ASSOCIATION, INC
ARTICLE
II
The
purposes for which the Association is formed are as follows:
To promote the health safety and welfare of the residents within
Swiss Village East Subdivision, and such additions thereto as may
hereafter be brought within the jurisdiction of this corporation by
annexation, and for this purpose to:
(a)
Own, acquire, build, operate and maintain recreation parks,
playgrounds, commons, streets, footways, including buildings, structures,
personal properties incident thereto, herein after referred to as the
“the common properties and facilities”;
(b)
Provide exterior maintenance for the lots and homes with the
Subdivision;
(c)
Provide garbage and trash collections;
(d)
Maintain unkempt lands or trees;
(e)
Provide fire and police protection;
(f)
Supplement municipal services;
(g)
Fix assessments (or charges) to be levied against the Subdivision;
(h)
Enforce any and all covenants, restrictions and agreements
applicable to the Subdivision;
(i)
Pay taxes, if any on the common properties and facilities; and
(j)
Insofar as permitted by law, to do any other thing that, in the
opinion of the Board of directors, will promote the common benefit and
enjoyment of the residents of the Subdivision.
ARTICLE III
MEMBERSHIP
Section
1. Definition of Membership.
Any owner or joint owners of property in SWISS VILLAGE EAST shall
be a member of the Association. A
membership unit is a person or persons or organizations who individually
or jointly owns a lot in the Subdivision, and shall be entitled to one (1)
vote per lot.
Section
2. Land
Contract Vendees. Where
any of the said lots have been sold on an executory Land Contract, the
land contract vendees thereof shall be considered to be the owners and
members of the Association
Section
3. Voting Rights of Membership.
Each membership unit shall be entitled to one (1) vote in the
various matters of the Association provided that the unit is current on
the payment of membership dues.
ARTICLE
IV
FINANCES
Section
1. Dues.
Each membership unit shall pay to the Association the annual dues
that become due and payable on the first day of January in each year
beginning with January 1, 1975.
(a)
Annual dues shall be assessed as follows:
1.
$100 on each SVE lot on which stands a home, chalet, or other such
structure; and
2.
$67 on vacant SVE lots.
(b)
If a property owner pays the annual dues on a lot by April 30 of
the year in which assessed he or she may pay a reduced amount as follows:
1.
$90 for each lot described in (a) -1; and
2.
$60 for each lot described in (a) -2.
(c)
If an annual dues assessment in not paid by April 30 the year in
which assessed, a dues penalty of 1% per month on the unpaid balance of
annual any amount of an annual dues shall accrue so long as any amount of
annual dues remains unpaid.
(d)
If any amount of an annual dues assessment on a lot remains unpaid
as of December 31 of the year in which assessed, an $25 collection fee
shall be assessed and, further, the SVEPOA Board of Directors shall
institute whatever legal proceedings they deem appropriate to collect the
unpaid balance of annual dues, dues penalty, and collection fee.
Section
2. Failure
to Pay Dues or Assessments. Any
membership unit who shall be sixty (60) days or more in default in the
payment of the annual dues shall not be in good standing and shall not be
entitled to vote in any matters of the Association nor to hold office in
the Association until such delinquencies have been paid.
Section
3. Enforcement.
The Association shall have the power and the right in its own name
to take and prosecute all suits, legal equitable otherwise which may, in
the opinion of the Board of Directors, be necessary or advisable for the
collection of such dues and to take such other steps as it may deem
expedient to impose a lien upon the membership unit property.
ARTICLE
V
MEETING
AND ELECTIONS
Section
1. Annual
Meeting. The annual
meeting of the Association shall be held during the month of May in each
year beginning with the year 1977 on such date and at such time and at
such place as shall be determined by the Board of Directors and specified
in a written notice thereof. The
purpose of the Annual Meeting is for the election of Directors and for the
transacting of such other business as may properly come before the
meeting.
Section
2. Quorum.
At any meeting of the members of the Association twenty (20)
members present shall constitute a quorum for the election of Directors or
for the transaction of any business as may properly come before the
meeting. A simple majority of
those voting, either for themselves or by written proxies, shall decide
the issue.
Section
3. Rule
for Conduct of Meeting. Roberts’
Rules of order, most recently revised edition, shall be the authority for
the conduct of all meetings of the Association.
Section
4. Special
Meetings. A special
meeting of the membership may be called at any time by the President or by
a majority of the Board of Directors, or upon written request of
twenty-five (25) members, provided however, that notice by given as
specified in these By-Laws and must state the purpose of the special
meeting.
Section
5. Notice.
At least ten (10) days written notice of all meetings of the
membership shall be delivered to each membership unit at his address shown
on the records of the Association.
Section
6. Election
of Directors.
(a)
The President of the Association shall appoint three (3) members in
good standing to be a nominating committee for the election of Directors
at least thirty (30) days prior to the annual meeting.
Additional nominations of Directors may be made orally at the
annual meeting provided the nominee is in attendance and agreeable to the
nomination or has given his written consent to the nomination.
(b)
All elections shall be by ballot, which ballot shall have been
prepared by the nominating committee prior to the annual meeting. The nominating committee shall count, tabulate and report the
votes cast. In case of a tie
for the last Directorship, run-off election will be held.
ARTICLE
VI
BOARD
OF DIRECTORS
Section
1. Number
and term of Directors. A
Board of Directors composed of ten (10) members shall manage the business,
property and affairs of the Association.
At the annual meeting held in January 1975, five (5) Directors ere
elected for a two (2) year term and five (5) Directors were elected for a
one (1) year term. At each
subsequent annual meeting five (5) Directors shall be elected to fill the
expiring places on the Board for a full two-year term. At any meeting of
the Board of Directors, a majority of the entire membership of the Board,
as then constituted by the By-Laws, shall constitute a quorum for the
transaction of business and a majority of the Directors present provided
there is a quorum, shall decided any question that may come before the
meeting. The Directors whose
terms expire in January , 1977, and January 1978, respectively shall serve
for an extended period until the annual meeting held in May,1977, and May,
1978 as the case may be.
Section
2. Vacancies.
If the office of any Director shall become vacant for any reason, the remaining Directors, being a quorum may elect a
successor who shall hold office for the remainder of the term of the
Director he replaced.
Section
3. Powers.
The Board of Directors shall elect a President, Vice-President,
Secretary, and Treasure of the Association who shall be members of the
Board of Directors. These
officers shall hold office for the term of one (1) year or until their
successors are elected and qualified.
The Board of Directors shall also have the power to appoint such
other officers and agents and agents of the Association as may be deemed
necessary for the transaction of business of the Association. The Board of Directors may exercise such other powers and to
do all such things as may be necessary for the purpose of the Association,
subject nevertheless to the provision of law, Articles of Incorporation
and these By-Laws.
Section
4. Meetings.
Regular meetings of the Board of Directors shall be held at such
time and places as the majority of the Board of Directors shall, from time
to time, determine. Special
Meeting of the Board of Directors may be called at any time by the
President or Secretary or a majority of the Board of Directors.
Section
5. Compensation.
No Director or officer shall receive any salary or compensation for
his services to the Association unless otherwise specifically ordered by
the Board of Directors.
ARTICLE
VII
OFFICERS
Section
1. Title,
Election, and Term. The
officers of this Association shall be a President, Vice-President,
Treasurer, and Secretary and shall be elected by the Board of Directors
and shall hold office for one (1) year or until their successors are
elected and qualified.
Section
2. Duties.
The duties of the officers of the Association shall be as follows:
(a)
President. It shall be the duty of the President to preside at all
meeting of the Association and Board of Directors and at the annual
meeting shall present his report. The
President shall appoint and be and ex officio member of all committees,
and all appointments to be subject to the approval of the Board of
Directors and shall sign all written contracts and obligations and shall
perform such other duties as are incident to this office.
(b)
Vice-President. The
Vice President in the absence or disability of the President shall have
the power to perform the duties of the President.
The Vice-President shall act as Parliamentarian at all meetings.
(c)
Treasurer. The
Treasurer shall have custody of all funds and shall keep in appropriate
books belonging of the Association, and full and accurate accounting of
all receipts and disbursements. He
shall deposit all moneys in the name of the Association in such
depositories as may be designed for that purpose by the Board of
Directors. He shall disperse
the funds of the Association as may be ordered by the Board, taking proper
vouchers for such disbursements, and shall render to the President and the
Directors at the regular meeting of the Board, or whenever requested by
them, an accounting of all his transactions as Treasurer and of the
financial condition of the Association.
He shall report of the Board any members who is more than sixty
(60) days in arrears in dues or any other indebtedness to the Association. All check, drafts or orders for payment of money shall be
signed by the Treasurer in the name of the Association and shall be
countersigned by the President.
(d)
Secretary. The
Secretary shall issue all notices of meeting of the Board of Directors and
all the general membership. The
Secretary shall also keep a register of all members of the Association and
shall keep the minutes of the meeting of the Association and the Board of
Directors and perform such other duties as are incident to the office or
as prescribed by the Board of Directors.
ARTICLE
VIII
COMMITTEES
Section
1. Membership.
All committees shall be appointed by the President by and with the
advice and consent of the Board of Directors.
Vacancies shall be filled in a like manner.
Section
2. Initial Committees to
be formed. The initial
committees to be formed are as follows:
Additional
committees may be appointed from time to time for the purpose of handling
such additional projects as my develop in the future years.
ARTICLE
IX
AMENDMENTS
Section
1. The By-Laws of this
Association may be amended at any time by a majority of the vote of the
membership at any general or special meeting.
The proposed amendment shall be contained in the notice of the
meeting sent to the general membership.
Amendments of the By-Laws adapted by the membership of the
Association shall be given immediate effect. |