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50 <br /> Section 6.7. Manner of Actina. Except as otherwise provided in this section, the act <br /> of the majority of the Directors present at a meeting at which a quorum is present will be the act <br /> of the Board of Directors. A vote of a majority of the number of Directors fixed by the Bylaws <br /> will be required to adopt a resolution constituting an executive committee. <br /> Section 6.8. Organization. Each meeting of the Board of Directors will be presided <br /> over by the President and in the absence of the President, by the Vice President, and in the <br /> absence of the Vice President, by any person selected to preside by vote of the majority of the <br /> Directors present. The Secretary, or in his or her absence, an Assistant Secretary, or in the <br /> absence of both the Secretary and the Assistant Secretary,any person designated by the presiding <br /> officer of the meeting will act as Secretary of the meeting. <br /> Section 6.9. Informal Action of Directors. Any action taken by the Directors <br /> without a meeting will constitute Board action if written consent to the action in question is <br /> signed by all the Directors and filed with the minutes of the proceedings of the Board, whether <br /> done before or after the action is taken. <br /> Section 6.10. Minutes. The Board, and all committees to which the Board will have <br /> delegated any of its authority, will keep minutes of all of the proceedings of the Board and the <br /> committees. <br /> Section 6.11. Fidelity Bonds. The Board of Directors may at any time in its absolute <br /> discretion require any officer or employee of the Association handling or responsible for <br /> Association funds to be covered by an adequate fidelity bond. The premiums on such bond will <br /> constitute a Common Expense. <br /> Page 42 of 50 <br />