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<br />~~~~1:jJ,7 <br /> <br />."t...... <br />~';'. <br /> <br />. <br /> <br />(e <br /> <br />4. Special Meetings. Special meetings of the members <br />for any purpose or purposes other than those regulated by <br />statute may be called for by the President as directed by <br />resolution of the Board or upon a petition signed by a <br />majority of the members of the Association. Suchpetition <br />shall state the purpose or purposes of such proposed meeting. <br /> <br />5. Notice of Meetings. The President or Secretary <br />shall give or cause to be given notice of the time, place <br />and purpose of holding each annual or special meeting by <br />mailing or hand-delivery such notice at least ten (10) days <br />but not more than twenty (20) days prior to such meeting to <br />each member at the respective addresses of said members as <br />they appear on the records of the Association. <br /> <br />6. Adiourned Meetings. If the number of members <br />necessary to constitute a qUOrum shall fail to attend in <br />person or by proxy at the.time and place of meeting, the <br />Chairman of the meeting, or a majority in interest of the <br />members present in person or by proxy, may adjourn the <br />meeting from time to time until the necessary number of <br />Association members shall be in attendance. At any adjourned <br />meeting at which a quorum shall be present, any business may <br />be transacted which might have been transacted at the original <br />meeting. <br /> <br />7. Waiver of Notice. <br />waive any notice required to <br />or by statute or otherwise. <br />person at any meeting of the <br />waiver. <br /> <br />Any member may at any time <br />be given under these By-Laws, <br />The presence of a member in <br />members shall be deemed such ,a <br /> <br />8. Action of Members Without a Meeting. Any action <br />required to be taken, or any action which may be taken at a <br />meeting of the members, may be taken without a meeting if a <br />consent in writing, setting forth the action so taken, shall <br />be signed by all of the owners and co-owners of memberships <br />entitled to vote with respect to the subject matter thereof. <br /> <br />ARTICLE V <br /> <br />Board of Directors and Managers <br /> <br />1. Number <br />this Association <br />consisting of <br /> <br />and Qualification. (a) The affairs of <br />shall be governed by a Board of Directors <br />persons. <br /> <br />(b) <br />natural <br />agents, <br /> <br />Where a member of the Association is other than <br />person, one of its officers, principals, partners <br />may be elected to the Board. <br /> <br />a <br />or <br /> <br />2. Powers and Duties. The Board shall have the <br />powers and duties necessary for the administration of the <br />affairs of the Association, and may do all such acts and <br />things as are not by law or by these By-Laws directed to be <br /> <br />- 3 - <br />