Agenda - 04-20-2018 6-a - Major Subdivision Preliminary Plat Application

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Page 44 of 51 Section 6.7.Manner of Acting. Except as otherwise provided in this section, the act of the majority of the Directors present at a meeting at which a quorum is present will be the act of the Board of Directors. A vote of a majority of the number of Directors fixed by the Bylaws will be required to adopt a resolution constituting an executive committee. Section 6.8.Organization. Each meeting of the Board of Directors will be presided over by the President and in the absence of the President, by the Vice President, and in the absence of the Vice President, by any person selected to preside by vote of the majority of the Directors present. The Secretary, or in his or her absence, an Assistant Secretary, or in the absence of both the Secretary and the Assistant Secretary, any person designated by the presiding officer of the meeting will act as Secretary of the meeting. Section 6.9.Informal Action of Directors. Any action taken by the Directors without a meeting will constitute Board action if written consent to the action in question is signed by all the Directors and filed with the minutes of the proceedings of the Board, whether done before or after the action is taken. Section 6.10.Minutes. The Board, and all committees to which the Board will have delegated any of its authority, will keep minutes of all of the proceedings of the Board and the committees. Section 6.11.Fidelity Bonds. The Board of Directors may at any time in its absolute discretion require any officer or employee of the Association handling or responsible for Association funds to be covered by an adequate fidelity bond. The premiums on such bond will constitute a Common Expense. ARTICLE VII OFFICERS 93