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51 <br /> (e) declare the office of a Director to be vacant in the event such Director <br /> shall be absent from three(3)consecutive meetings of the Board of Directors; <br /> (f) elect and employ a President, who shall be the chief executive officer of <br /> the Corporation,and such other employees as they deem necessary,and to prescribe their duties; <br /> (g) elect such other Officers of the Corporation as it may deem necessary; <br /> (h) elect a successor Director to fill the vacancy of any Director removed by <br /> the Members or declared vacant by the Board of Directors; <br /> (i) establish such committees as it may deem appropriate;and <br /> 0) exercise for the Corporation any and all other powers, duties and authority <br /> vested in, conferred upon or delegated to the Corporation pursuant to the North Carolina Planned <br /> Community Act, the North Carolina Nonprofit Corporation Act, the Declaration, the Articles of <br /> Incorporation and/or these Bylaws, as applicable, and not expressly reserved to the Members by the <br /> North Carolina Planned Community Act, the North Carolina Corporation Act, the Declaration, the <br /> Articles of Incorporation and/or these Bylaws,the Declaration,as applicable. <br /> Section 7.02 Duties. It shall be the duty of the Board of Directors to: <br /> (a) cause to be kept a complete record of all its acts and corporate affairs and <br /> to present a statement thereof to the Members at the annual meeting of the Members, or at any <br /> special meeting which such statement is requested in writing any Member; <br /> (b) supervise all Officers,agents and employees of the Corporation,and to see <br /> that their duties are properly performed; <br /> (c) issue, or to cause an appropriate Officer to issue, upon demand by any <br /> Member, a certificate setting forth whether any Annual Assessment, Special Assessment or other <br /> Charge required to be paid by any Member has been paid. Such certificate shall be conclusive <br /> evidence of such payment; <br /> (d) cause all Officers or employees having fiscal responsibilities to be bonded, <br /> as it may deem appropriate; <br /> (e) cause any property of the Corporation to be properly maintained and <br /> insured; <br /> (f) cause any and all necessary registrations, licenses and permits to be <br /> obtained and maintained by the Corporation; <br /> (g) submit a proposed annual budget, including any proposed Common <br /> Expenses, to the Members for their consideration and approval at the annual meeting of the <br /> Members; <br /> 41 <br />