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70 <br /> shall serve the remainder of the term. <br /> Section 3: No Executive Board member shall receive compensation for any service he may <br /> render to the Association outside of his or her normal employment as an <br /> employee of the Town or County. However, with the prior approval of the <br /> Executive Board, any Executive Board member may be reimbursed for actual <br /> expenses incurred in the performance of his duties. <br /> Section 4: The Executive Board shall have the right to take any action in the absence of a <br /> meeting which they could take at a duly held meeting by obtaining the written <br /> consent of the other Executive Board members to the action. Any action so <br /> approved shall be filed in the Association books and records and shall have the <br /> same effect as though taken at a meeting of the Executive Board. <br /> ARTICLE III <br /> MEETINGS OF EXECUTIVE BOARD <br /> Section 1: Meetings of the Executive Board shall be as deemed necessary by the Board, <br /> without notice, or as determined by the Board, at such place and hour as may be <br /> fixed from time to time by resolution of the Board. Special meetings of the <br /> Executive Board may be called by any member of the Executive Board, after not <br /> less than three (3) days-notice to the other Executive Board members. <br /> Section 2: A majority of the Executive Board members shall constitute a quorum for the <br /> transaction of business. Every act or decision done or made by a majority of the <br /> Executive Board members present at a duly held meeting shall be regarded as the <br /> act of the board. <br /> ARTICLE IV <br /> POWERS AND DUTIES OF THE EXECUTIVE BOARD <br /> Section 1: Subject to the provisions contained herein and applicable law, the Executive <br /> Board shall have the power and authority to exercise all the rights of the <br /> Association, including,but not limited to: <br /> (a) Adopt rules and regulations governing the use of the common area and <br /> facilities, the personal conduct of the members and their guests thereon, and <br /> 28 <br />