By-Laws of the Lake Montezuma Property Owners Association, Inc.

 Adopted by members at the May 3, 2010 LMPOA regular meeting.
Article I.  Name.

The name of this corporation shall be Lake Montezuma Property Owners Association, Inc. hereafter referred to in these By-Laws as “LMPOA”.

Article II.  Nature and Purpose.

The LMPOA shall be operated exclusively to serve the interests of its members by (a) promoting good will and friendly relationships among property owners and residents, (b) providing a means whereby members can express themselves and be informed about matters affecting their interests, (c) maintaining knowledgeable contact with governmental bodies, corporations, organizations and persons having possible influence on the development of the community and on the interests of members and (d) exert influence on and give guidance to the end that interests of members will be protected and benefited.

Article III.  Membership.

Section 1.  Eligibility for membership shall be the ownership of real property within the area that was originally developed into 36 subdivisions by the Lake Montezuma Country Club Development Corporation.

Section 2.  Membership shall be on a unit basis:  one (1) membership and one (1) vote for each family or for jointly owned or corporate owned property, and no distinction shall be made regarding the amount of property owned.

Section 3.  Qualified applicants may become members upon payment of dues as hereinafter specified.

Section 4.  Membership shall terminate when dues are 90 days overdue, when a member ceases to qualify, or when a member resigns.

Section 5.  Dues shall be on an annual basis due January 1 of each year in an amount set by the board.  There shall be no refund of dues upon termination of membership.

Article IV.  Board of Directors.

Section 1.  The Board shall consist of at least six directors who shall be members in good standing and shall be elected by a majority of members present at the annual meeting of the LMPOA from nominations taken from the floor.

Section 2.  Term of office shall be staggered three (3) year terms.

Section 3.  Should an opening occur on the Board prior to the annual meeting, the president may appoint a replacement to serve until the next annual meeting.

Article V.  Officers

Section 1.  Officers of the Board shall be president, vice president, secretary, and treasurer and shall be elected by the directors from their ranks at the first meeting of the Board following the annual meeting.

Section 2.  Term of office for officers shall be one (1) year or until their successors are elected.

Section 3.  The president shall preside at all meetings of the board and of the LMPOA and, with the approval of the board, appoint committee chairs as deemed necessary from time to time.  The president shall be a signer on the LMPOA bank accounts.

Section 4.  The vice president shall preside at all meetings for which the president is absent.

Section 5.  The secretary shall record the proceedings of all meetings of the board and the association and shall keep records in a manner accessible to members. The secretary shall be a signer on the LMPOA bank accounts .

Section 6.  The treasurer shall receive all LMPOA dues and other funds. Checks shall be signed by the treasurer or, in the absence of the treasurer, the president or secretary and shall be drawn on an account or accounts approved by the Board.  All amounts in excess of normal operating expenses (e.g., utilities, taxes, insurance, newsletter, etc.) shall be approved by the Board prior to payment. The treasurer shall provide a monthly financial report to the Board and shall keep records in a manner accessible to members on request.

Article VI.  Committees.

Section 1.  The president, with approval of the Board, shall appoint committee chairs as deemed necessary from time to time.

Section 2.  Committee members shall be members in good standing of the LMPOA.

Section 3.  Committee chairs shall serve until the next annual meeting and may be reappointed by the president.

Article VII.  Meetings.

Section 1.  Regular meetings of the Board shall be held once each month on a date selected by the Board.

Section 2.  Special meetings of the Board may be held upon call of the president or at the request of three (3) Board members.

Section 3.  A quorum for meetings of the Board shall be one-half (1/2) of the members of the Board.

Section 4.  The LMPOA shall meet once each year on a date in January to be selected by the Board and publicized at least fifteen (15) days in advance.

Section 5.  Special meetings of the LMPOA shall be called by the Board upon written request of ten (10) or more members in good standing.  Notices of special meetings shall be given to members in good standing not less than fifteen (15) days prior to the date of the meeting, and no subject not included in the advance notice shall be considered, discussed, or acted upon at the meeting.

Section 6.  A quorum for LMPOA meetings shall be the members in good standing present at the meeting.

Article VIII.  Rules of Order and Operation.

In all matters of procedure not specifically covered by these By-Laws, Roberts Rules of Order Newly Revised shall prevail. The business of  LMPOA shall be conducted in accordance with Article IV of the Articles of Incorporation.

Article IX.  Amendments.

Section 1.  Amendments to these By-Laws may be proposed in writing at a regular monthly meeting of the Board by a member of the Board or by any LMPOA member in good standing.

Section 2.  Notice of the meeting at which the vote on such proposal will be taken and the full body of the proposal will be published in the next issue of the newsletter.  The date of the meeting shall be at least one (1) month following mailing of the newsletter.  Responses, written or voiced, will be considered prior to the vote.

Section 3.  Approval of such proposed amendment(s) shall be by a two-thirds (2/3) vote of members present at the meeting given in the notice.

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