Park Timbers HOA

Park Timbers Homeowners Association Bylaws

Association Bylaws

ARTICLE I

MEMBERSHIP

Section l. Any person of good character eligible for membership under the Articles of this Corporation must become a member thereof after paying the required dues to the Treasurer, and upon subscribing to the Constitution and By-Laws.

Section 2. The term of membership shall be continuous from year to year, coincidental with the fiscal year of the Corporation.

ARTICLE II

DUES

Section l. An annual maintenance charge shall be levied by the Executive Committee of the Association at a level deemed proper to provide desired services of the Association, within the guidelines set forth in Article II, Section 2 of these By-Laws and in accordance with the Restrictive Covenants applicable to the Park Timbers Subdivision.

Section 2. The annual charge created herein shall be billed in the month designated by the Executive Committee and payable within thirty (30) days to the Park Timbers Homeowners’ Association, Sections 1, 2, 3, and 4, the trustees of which shall be the custodian and the administrator of such fund at such address as it may from time to time designate.

Section 3. The annual maintenance fund charge may be adjusted by a majority vote of the Executive Committee at any regular meeting or special meeting of the said Committee, and that such proposal in writing shall have been delivered or mailed to the residence of each member of the Executive Committee at least seven days prior to the meeting at which it is to be considered. The annual maintenance fund may not be adjusted to exceed $120.00 per lot, unless by a 75% vote of the members in good standing present at any regular meeting or special meeting of the membership, provided that such proposal in writing shall have been delivered or mailed to the residence of each member in good standing at least seven days prior to the meeting at which it is to be considered.

Section 4. All funds collected from the charge levied hereby shall be applied to the purposes set forth in the Park Timbers Restrictive Covenants.

ARTICLE III

EXECUTIVE COMMITTEE

Section l. The Executive Committee shall be comprised of at least nine (9) but not exceed fifteen (15) members which shall include at least one (1) representative from each section of the Park Timbers Subdivision. The Executive Board Committee shall be elected at the annual meeting for a term of two (2) years.

Section 2. A member of the Executive Committee may also be an officer of this Corporation.

Section 3. If any member of the Executive Committee ceases to be a member in good standing of this corporation during his term of office, his office shall be automatically vacated upon the expiration of five days written notice given over the signature of the Secretary of the Corporation, and a successor shall be elected for the unexpired term by a majority vote of the remaining members of the Executive Committee.

Section 4. The members of the Executive Committee shall elect a President, Vice-President, Secretary and Treasurer of the Corporation. The President and Vice-President must be elected from within the Executive Committee.

Section 5. The business of the Corporation shall be managed by the Executive Committee which may exercise all such powers of the Corporation and do all such lawful acts and things as are not by statute or by the Articles of Incorporation or by these By-Laws directed or required to be exercised or done by the stockholders.

Section 6. The Executive Committee shall, by majority vote, advise the Trustees of the Park Timbers maintenance fund in all matters pertaining to the collection of said funds and direct the Trustees in the expenditures of the said funds by the said Association.

Section 7. The officers of the Executive Committee shall be responsible to the Board of Trustees for providing such information as appropriate books, records, accounts, etc. of the collections, appropriations, disbursements, etc. of the complete and total maintenance fund, as outlined by the covenants.

Section 8. The Executive Committee shall elect by majority vote the Trustees of the
Association in the event any Trustee resigns or otherwise ceases to serve as Trustee of the said Association.

Section 9. Regular meetings of the Executive Committee may be held at such time and such place as shall be determined by the Board and reasonable notice thereof must be given to all members of the Executive Committee.

Section 10. Special meetings of the Executive Committee shall be called by the President on five days notice to each member thereof, either personally or by mail or by telegram.

Section 11. In the event that a regular or a special meeting of the Executive Committee is called and a member thereof from any particular section of the subdivision is unable to attend personally the said meeting, a proxy may be given by the member to any other person residing within the said section, providing that the written proxy setting forth the name of the person authorized to use same is delivered to the President or Vice-President of the said Association prior to the meeting which is to be held. This proxy statement shall be attached to and form a part of the minutes of the said meeting.

Section 12. At all meetings of the Executive Committee a majority of the members thereof, including any members appearing by proxy, shall constitute a quorum for the transacting of business, and the act of the majority of the members present at any meeting at which there is a quorum shall be the act of the Executive Committee, except as may be otherwise specifically provided by statue or by the Articles of Incorporation. If a quorum shall not be present at any meeting of the Executive Committee, the members present thereat may adjourn the meeting from time to time, without notice other than announcement at the meeting, until a quorum shall be present.

Section 13. Unless otherwise restricted by the Articles of Incorporation or these By-Laws, any action required or permitted to be taken at any meeting of the Executive Committee may be taken without a meeting, if prior to such action a written consent thereto is signed by all members of the Committee and such written consent is filed with the minutes of the proceedings of the Committee.

Section 14. The members of the Executive Committee shall not be entitled to any compensation or any expenses for attending either the regular or special meetings of the Board.

Section 15. The members of the Executive Committee shall not be held personally liable for damages sustained by the said Association as a result of any act of omission or commission by the Committee or any member thereof, unless arising out of fraud or illegal actions or gross negligence.

ARTICLE IV

OFFICERS

Section 1. The officers of this Corporation shall be chosen by the Executive Committee and there shall be a President, a Vice-President, a Secretary and a Treasurer. The Executive Committee may also choose additional Vice-Presidents, and one or more Assistant Secretaries and Assistant Treasurers. The President and Vice-President must be chosen from within the Executive Committee.

Section 2. The Executive Committee at its first meeting after each annual meeting of the stockholders shall choose a President, one or more Vice-Presidents, and a Secretary and a Treasurer.

Section 3. The officers shall not be entitled to any compensation or any expenses for attending either the regular or special meeting of the Board.

Section 4. The officers of the Corporation shall hold office until successors are chosen and qualify. Any officer elected or appointed by the Executive Committee may be removed at any time by the affirmative vote of the majority of the Executive Committee. Any vacancy occurring in any office of the Corporation shall be filled by the Executive Committee.

Section 5. The officers of the Corporation shall not be held personally liable unto the Association or the members thereof for any acts of commission or omission unless same arises out of the fraud or other illegal actions of the said officer or through his gross negligence.

Section 6. The President shall preside at all meetings of the Corporation, preserve order, enforce the Constitution and By-Laws, and exercise supervision of its affairs generally. He shall decide all questions of procedure and order for the Corporation. He may, but shall not be required to vote, except in the case of tie vote at elections of officers and members of the Executive Committee, in which case he must vote. He shall appoint all committees and shall b an ex-officio member thereof. He shall preside at all meetings of the Executive Committee. He shall perform such other and further duties as are customarily performed by such officer.

Section 7. The Vice-President shall assist the President in the discharge of his duties. He shall preside at all meetings of the Corporation in the absence of the President. In the absence of the President or in the event the office of the President is vacant, he shall perform all the duties of the President.

Section 8. The Secretary shall keep his full, true and current records of all proceedings of the Corporation, receive all communications, conduct all correspondence, have charge of all records, shall perform the same duties, with respect to the Executive Committee, and shall perform such other duties as are customarily performed by such officer.

Section 9. The Treasurer shall receive dues from the members, giving his receipt therefore. He shall receive all other money due to the Corporation. All money shall be deposited in the bank designated by the Executive Committee and shall be withdrawn upon the signatures of the President and Treasurer, or in the absence of the President, the Vice-President. He shall also perform such other duties as are customarily performed by such officer. All money and records shall be returned to the Executive Committee upon vacating office for any reason.

ARTICLE V

ELECTIONS

Within thirty (30) days following the annual meeting of the general membership of the Corporation, the members of the Executive Committee whose position becomes vacant in accordance with Article III, Section 1, shall be elected by utilizing the following procedure:

a. The incumbent representative or the President of the Association, upon verbal or written request of 10% of the respective section property owner members, shall call a meeting of the property owners from that Section at a time and place reasonably convenient to the residents of that Section.

b. The meeting shall be chaired by one of the officers of the Executive Committee or an appointee of the President of the Association.

c. At any such meeting any property owner member shall be privileged to make nominations from the floor.

d. Election may be by oral vote, show of hands or written ballot cast as determined by the property owner members present at the meeting.

e. The presiding officer shall appoint three tellers to count the votes.

f. The presiding officer shall declare the result of the ballot by declaring the number receiving a plurality vote elected.

g. In the event of election by written ballot, the presiding officer shall ask if anyone wishes to examine the ballots. Should there be no response, he shall order the ballots destroyed.

ARTICLE VI

MEETINGS

Section l. A regular meeting of the membership of this Corporation shall be held at the time and place designated in the notice thereof on the first Tuesday in December of each year, unless it fall upon a legal holiday, in which event the meeting shall be held on the following Tuesday.

Section 2. Special meetings of the membership may be called by the President, Vice-President, a majority of the Executive Committee, or 10% of the members in good standing, upon five (5) days notice to the members.

Section 3. Meetings of the Executive Committee shall be held from time to time upon request of three members of the Committee or upon call of the President, or the Vice-President in the absence of the President.

ARTICLE VII

COMMITTEES

Section l. The President, immediately following his qualifying for such office, shall appoint the following standing committees:

a. Membership Committee
b. Architectural Committee
c. Maintenance and Utility Committee
d. Rules Committee
e. Civic Coordination Committee
f. Beautification Committee
g. Legal Advisory Committee
h. Publicity Committee
i. Zoning Committee
j. Budget Committee

At any time, and from time to time, the President may appoint any and all other committees necessary to carry on the business of the Corporation.

ARTICLE VIII

ANNUAL STATEMENTS

Section l. The Executive Committee shall be present at each annual meeting, and at any special meeting of the members when called for by vote of the members, a full clear statement of the financial condition of the Association.

ARTICLE IX

AMENDMENTS

Section l. These By-Laws may be amended or repealed at any regular meeting of the members or of the Executive Committee or at any special meeting of the members or of the Executive Committee, if notice of such amendment or repeal be contained in the notice of such meeting.


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