By-Laws Article IV

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OFFICERS

 

 

Section 4.01 Officers of the Association

 

The principal officers of the Association shall be the President, Vice President, Secretary and Treasurer, all of whom shall be elected by the board. The Directors may appoint an Assistant Treasurer and an Assistant Secretary and such other officers as in their judgment may be necessary. Any two or more offices may be held by the same person, except that the duties of the President and Secretary may not be performed by the same person.

 

Section 4.02 Election of Officers

 

The officers of the Association shall be elected annually by the Board at the initial meeting of  each new Board. Upon an affirmative vote of a majority of all members of the Board, any officer may be removed either with or without cause and his successor elected at any Regular Meeting of the Board or at any Special Meeting of the Board called for such purpose.

 

Section 4.03 The President

 

The President shall be elected from among the Directors and shall be the chief executive officer of the Association. He shall preside at all meeting of the Association and of the Board, shall have and discharge all the general powers and duties usually vested in the office of President or chief executive officer of an association or a stock corporation organized under the laws of Indiana, including but not limited to the power to appoint committees from among the Directors or Owners as he may deem necessary to assist in the affairs of the Association and to perform such other duties as the Board may from time to time prescribe.

 

Section 4.04 The Vice President

 

The Vice President shall be elected from among the Directors and shall perform all duties incumbent upon the President during the absence or disability of the President. The Vice President shall also perform such other duties as these By-Laws prescribe or as shall, from time to time, be imposed upon him by the Board or by the President.

 

Section 4.05 The Secretary

 

The Secretary shall be elected from among the Directors. The Secretary shall attend all meetings of the Association and of the Board and shall keep or cause to be kept a true and complete record of the proceedings of such meetings, shall perform all other duties incident to the office of the Secretary, and such other duties as from time to time may be prescribed; by the Board. The Secretary shall specifically see that all notices of the Association or the Board are duly given, mailed or delivered, in accordance with the provisions of these By-Laws.

 

Section 4.06 The Treasurer

 

The Board shall elect from among the Directors a Treasurer who shall maintain a correct and complete record of accounts showing accurately at all times the financial condition of the Association, and such other duties incident to the office of Treasurer. He shall be the legal custodian of all monies, notes, securities, and other valuables which may from time to time come into possession of the Association. He shall immediately deposit all funds of the Association coming to his hands in some reliable bank or other depository to be designated by the Board and shall keep such bank account in the name of the Association.

 

Section 4.07 Assistant Officers

 

The Board may, from time to time, designate and elect from the Owners an Assistant Secretary and Assistant Treasurer who shall have such powers and duties as the officers whom they are elected to assist shall delegate to them and such other powers and duties as these By-Laws or the Board may prescribe.