Condominium Resale Certificate - Williams & Williams
Condominium Resale Certificate - Williams & Williams
Condominium Resale Certificate - Williams & Williams
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07:All MIG/jlf 2/4j64<br />
receive no compensation for their<br />
out-of-pocket expenses incurred in the<br />
duties as Directors.<br />
services, but may be paid for<br />
performances of their<br />
4.17 Powers and Duties of Executive Board: All of the<br />
powers and duties of the Association shall be exercised by the<br />
Board, including those existing under the common law, applicable<br />
statutes, the Act, the Declaration,<br />
thereof may from time to time be amended.<br />
and these Bylaws, as any<br />
Such powers and duties<br />
shall be exercised in accordance with the provisions of applicable<br />
law, the Declaration, and Bylaws, and shall include, but not be<br />
limited to, the following:<br />
To elect the officers of the Association.<br />
To prepare and provide to members annually a report<br />
containing at least the following:<br />
A statement of any capital expenditUres in<br />
excess of two percent (2%) of the current<br />
budget or<br />
Five Thousand Dollars ($5,000.00), whichever is greater,<br />
anticipated by the Association during the current year<br />
or succeeding two (2) fiscal years.<br />
A statement of the status and amount of any reserve<br />
or replacement fund and any portion of the fund designated<br />
for any specified project by the Executive Board.<br />
A statement of the financial condition of<br />
the Association for the last fiscal year.<br />
A statement of the status of any pending suits<br />
or judgments to which the Association is a party.
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