13
Mar
2012
** Please note, the Bylaws below are from 1971 and may not be completely accurate for what our practices are today. It is currently being reviewed.
| BYLAWS AND RULES of the TWIN LAKES PROPERTY OWNERS ASSOCIATION (Hereinafter called the Association) |
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|---|---|
| ARTICLE I. | MEMBERSHIP: |
| Section 1. | Membership is restricted to owners of property in Twin Lakes Subdivision, north and south portions. |
| Section 2. | Persons eligible for membership shall become members upon: (a) Filing with the Secretary, an application accompanied by current annual dues of thirty five dollars ($35.00) membership fee plus current annual dues of $30.00, due on or before July 1st of each year. |
| Section 3. | Membership shall terminate upon: |
| (1) Sale of Property, | |
| (2) Failure to pay dues. | |
| Section 4. | When more than one lot or parcel of land is used as a single home site, it shall be considered as one home site for the purpose of fixing voting power and dues. |
| Section 5. | When any lot or parcel of land is owned jointly, the membership as to such site, including voting power, shall be exercised by only one of its owners. |
| ARTICLE II | MEETINGS OF MEMBERS: |
| Section 1. | Meeting of members shall be held at a time and place designated by the Board of Directors, and notice thereof given to members. |
| Section 2. | An annual meeting shall be held each year during the first week of July to coincide with the Independence Holiday weekend. A written notice of such meeting shall be mailed to said members’ last know place of residence. Such notice shall be mailed at least thirty (30) days preceding the date of such annual meeting. |
| Section 3. | Special meetings of the members may be called at any reasonable time by the Board of Directors or by written petition of 51% of the members. |
| Section 4. | The president, or in his absence, the vice-president, or in the absence of both, a Chairman, elected by the Board of Directors, shall preside. |
| Section 5. | 20% of the membership shall constitute a quorum for the conduct of business. |
| Section 6. | Meetings shall be conducted in the manner prescribed in Robert’s Rules of Order. |
| ARTICLE III | VOTING AND ELECTIONS: |
| Section 1. | Each member shall be entitled to one vote irrespective of the number of lots or parcels owned by him. |
| Section 2. | Directors shall be elected by mail ballot provided by the Association as set forth in Section 2, Article IV of the Bylaws. |
| Section 3. | Nominations for the Board of Directors shall be made by a Nominating Committee and by the members at least forty-five (45) days prior to the annual election date. |
| ARTICLE IV | DIRECTORS: |
| Section 1. | The number of Directors shall be five (5) and shall serve until the selection of their successors. |
| Section 2. | For the year 1971, a list of ten (10) names shall be mailed to each member for their vote to select five (5) board members. Thereafter, the number of nominations by the nominating committee shall be sufficient to fill the vacancies created by expiring terms as per Section 3 of Article IV. |
| Section 3. | The term of office for the first Board of Directors elected in 1971, shall be set as follows: Of the five members chosen, the three receiving the most votes shall serve for two year terms, and the other two for terms of one year. Thereafter, each Director’s term of office shall be for two years. |
| Section 4. | A Director may not serve more than two successive terms in office. |
| Section 5. | Should a vacancy occur on the Board of Directors between annual meetings, the remainder of the Directors are empowered to fill the vacancy. Such Directors shall serve only until the next annual election when the appointment is to be approved by the members or his successor elected. |
| Section 6. | If an elected Director fails to qualify with respect to property ownership and membership during his term of office, a vacancy shall occur. |
| Section 7. | Duties of Directors: Shall attend regular and special meetings, vote upon all matters raised at such meeting and assume and perform his proportionate share of the administrative duties and responsibilities of the Board. |
| Section 8. | Immediately after each annual meeting, the Directors shall meet for the purpose of election of officers and the transaction of other business. |
| Section 9. | A minimum of two Board meetings shall be held each year. |
| Section 10. | Special meetings of the Board may be called at any time by the President or by the Board of Directors. Notice of such meetings shall be mailed or personally delivered to each Director at least 48 hours prior to the meeting date. In lieu of personal meetings, the Directors may hold meetings by conference phone with a follow up of consent letters for any business transacted. |
| Section 11. | Three Directors shall constitute a quorum for the transaction of business. |
| Section 12. | Recall : Every incumbent of the Office of Director, whether elected or appointed, may be recalled in the following manner: By petition signed by fifty-one percent (51%) or more members and duly filed with the Secretary-Treasurer. It shall be the duty of the Secretary-Treasurer to inform the Board of the recall petition. The Board shall call for a special election for the purpose of recall. voting on the recall shall be by mail ballot. If a Director is recalled, the Board of Directors shall appoint a new Director to fill the vacancy for the remainder of the term of office. |
| ARTICLE V. | POWERS : |
| Section 1. | The powers of the Association shall be exercised and its affairs conducted by the Board of Directors. |
| Section 2. | The Board of Directors is empowered to appoint “Standing Committees” to assist with the transaction of Association affairs. |
| (a) Nominating Committee : A nominating Committee, to be composed of three non- board members, is to be appointed by the Board of Directors annually to place in nomination at the annual meeting, names of Association members to fill the positions of Board members whose term of office expire each year. This Nominating committee is to make a written report on the nominees to the Board of Directors in ample time for the Board to notify the members of the Association thirty (30) days prior to such annual meeting, as to whom has been nominated by the Committee. | |
| ARTICLE VI. | OFFICERS : |
| Section 1. | The Executive Officers of the Association shall be President, Vice-President and Secretary/Treasurer. |
| Section 2. | The officers of the Association shall be elected by the Board of Directors from their own number at the first meeting of the Board of Directors after the annual meeting, and they shall hold office at the will of the Board of Directors for one year and/or until their successors are elected. All officers except the Secretary-Treasurer shall serve without compensation except for their direct expenses of their offices. |
| Section 3. | The President shall be the Chief Executive Officer of the Association, and shall preside at all meetings of the members of the Board of Directors. He shall direct the affairs of the Association as authorized by the Board of Directors and the Bylaws and Rules of the Association. He shall execute with the Secretary and Treasurer, in the name of the Association, all contracts and other obligations and instruments authorized by the Board of Directors to be executed. He shall perform such other duties as may be assigned to him by the Board of Directors. |
| Section 4. | The Vice-President shall have all the powers and perform all the duties of the President in the case of the absence or disability of the President and shall perform such other duties as may be assigned to him by the Board of Directors. |
| Section 5. | The Secretary-Treasurer shall keep the minutes of all the proceedings of the members and of the Board of Directors. He/she shall attend to the giving and serving of all required notices of the meetings of the members and of the Board of Directors. He/she shall execute with the President, in the name of the Association, all contracts and other obligations and instruments authorized by the Board of Directors to be executed. He/she shall keep and have charge of the book of minutes of the meetings of the Board of Directors and of the members, the book of Bylaws and Rules, and such other books and papers as the Board of Directors may direct. He/she shall in general perform all the duties incident to the office of the Secretary-Treasurer subject to the control of the Board of Directors. He/she shall keep, or cause to be kept, full and accurate accounts of receipts and disbursements in books to be kept for that purpose. He/she shall receive and deposit or cause to be received and deposited, all monies and other valuables of the Association in such depositories as may be designated by the Board of Directors. He/she shall disburse, or cause to be disbursed, the funds of the Association in the manner directed by the Board of Directors whenever required, and shall keep accounts of all transactions as Secretary-Treasurer and of the financial conditions of the Association. All monies on deposit to the credit of the Association in depositories as designated by the Board of Directors shall be subject to withdrawal by the signatures of the President or Vice President and co signed by the Secretary-Treasurer. He/she shall mail to the members, a statement and financial report within thirty (30) days of the close of the fiscal year. A statement of annual dues shall be mailed to each member as of July 1st and said dues shall become delinquent sixty (60) days thereafter. |
| Section 6. | The books and papers of the Association shall be open to the inspection of the members at all reasonable times. |
| ARTICLE VII. | AMENDMENTS : |
| Section 1. | Amendments to the Bylaws and Rules may be proposed by the Board of Directors or by petition signed by 51% of the members. All proposed amendments shall be submitted to the membership for approval or disapproval by ballot by mail with at least 10 days allowed for the return of ballots from the date of mailing. |
REVISED: Dated: 9-13-71
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