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22 <br /> BYLAWS <br /> OF <br /> THE LODGES AT CHAPEL HILL HOMEOWNERS ASSOCIATION, INC. <br /> ARTICLE I: OFFICE <br /> The Association shall at all times maintain a registered office in the State of North Carolina <br /> and a registered agent at that address. The Association may also have such other offices as the <br /> Board of Directors shall determine. <br /> ARTICLE II: DEFINITIONS <br /> Unless the context requires otherwise, the terms defined in the Declaration of Covenants, <br /> Conditions and Restrictions for The Lodges at Chapel Hill Subdivision, recorded in the Orange <br /> County,North Carolina Registry(the "Declaration",the Declaration being incorporated herein in its <br /> entirety) shall have the same meanings for purposes of these Bylaws as are ascribed to them in the <br /> Declaration. <br /> ARTICLE III: MEMBERS <br /> Section 3.1 Membership. The Association shall have two classes of membership, Class <br /> A and Class B, which classes of membership shall have the rights conferred upon them by the <br /> Declaration, the Articles of Incorporation of the Association and these Bylaws. <br /> Persons who hold an interest merely as security for the performance of an obligation are not <br /> Members, and the giving of a security interest shall not terminate a Member's membership. In no <br /> event shall there be more than one(1)membership per Lot owned. In the event of multiple Owners <br /> of a Lot,rights of use and enjoyment shall be as provided in the Declaration and in the Bylaws,and <br /> all such persons shall be members. The vote for such lot shall be exercised as they among <br /> themselves determine, but in no event shall more than one (1) vote be cast with respect to any <br /> Lot. <br /> In the event a Member is a corporation, partnership, trust, or other legal entity not being a <br /> natural person or persons, then any natural person who is an officer, director, or other designated <br /> agent of such corporation,partner of such partnership,beneficiary or other designated agent of such <br /> trust,or manager of such other legal entity shall be eligible to represent such entity in the affairs of <br /> the Association. Such person's relationship with the Association shall terminate automatically upon <br /> the termination of such person's relationship with the entity which is the Member,which will create <br /> a vacancy in any elected or appointed position within the Association in which such person may <br /> have been serving, to be filled by the Board. <br /> Section 3.2 Annual Meeting. A meeting of the Members of the Association shall be held <br /> annually at such time and place on such date as the Directors shall determine from time to time. <br />