| President.
The president shall preside at all meetings of the Board of Directors,
shall see that orders and resolutions of the Board of Directors are
carried out, shall have the power to sign all leases, mortgages, deeds,
and other written instruments on behalf of the Association, and shall
co-sign all checks and promissory notes of the Association.
Vice
President. The vice president shall act in the place and stead
of the president in the event of his absence, inability, or refusal
to act, and shall exercise and discharge such other duties as may
be required of him by the Board of Directors.
Secretary.
The secretary shall record the votes and keep the minutes of all
meetings and proceedings of the Board of Directors and of the Members
in books to be kept for that purpose; shall keep the corporate seal
of the Association and affix it on all papers requiring said seal;
shall serve notice of meeting of the Board of Directors and of the
Members; shall keep appropriate current records showing the Members
of the Association together with their addresses as registered with
him by such Members; and shall perform such other duties as are
required by the Board.
Treasurer.
The treasurer shall receive and deposit in appropriate bank
accounts all monies of the Association and shall disburse such funds
as directed by resolution of the' Board of Directors, provided,
however, that such a resolution shall not be necessary for disbursements
made in the ordinary course of business conducted within the limits
of a budget adopted by the Board of Directors; shall cosign all
checks and promissory notes of the Association, provided that such
checks shall also be signed by the president or the vice president;
shall keep proper books of account; shall maintain the roster of
assessments referred to in Section 2 (c) (4) of Article VIII hereof
and the roster of First Mortgagees referred to in Section 2(e) of
Article VIII hereof; may cause an annual audit of the Association
books to be made by a certified public accountant (and shall cause
such an audit and provide an audited financial statement for the
preceding fiscal year to all
mortgagees who request it), shall cause the financial statement
of the Association to be delivered to each Member prior to the annual
meeting of the membership; shall prepare an annual budget for the
forthcoming fiscal year and submit it for review and adoption by
the Board of Directors, and shall deliver a copy of the adopted
budget to each Member.
|
