SECTION 1 NAME. The name of the corporation shall be “West Otter Lake Association”, hereinafter referred to as the Association.
SECTION 2 PURPOSES. The purpose of this Corporation shall be to promote the general welfare, to advise and assist in contacts between the property owners and various public and private groups and agencies, and to contract to accomplish these objectives.
SECTION 3 ADDRESSES. The Post Office address of the principal office of the Association shall be the home address of the President of the Association.
ARTICLE II MEMBERSHIP AND MEETINGS
SECTION 1 MEMBERSHIP.
SECTION 2 RIGHTS AND PRIVILEGES
A. Any member may participate in the Association activities. Only voting members may hold an Association office and cast a vote at Association meetings.
B. Only one vote may be cast per owner household of a lake property address, regardless of whether the property is owned singly or jointly, and regardless of the number of properties owned
SECTION 3 PLACE OF MEETINGS: Meetings of the association shall be held within close vicinity of West Otter Lake, at such place as may be specified in the notices thereof.
SECTION 4 ASSOCIATION MEETINGS: There shall be an annual business meeting held each year no later than the end of September. Additional meetings of a business or social nature may be called by the officers and directors to the Association. Currently we hold our spring meeting the first Saturday after Memorial Day and our Annual meeting the Saturday before Labor Day.
SECTION 5 SPECIAL MEETINGS: Special meetings may be called by the Directors or the President. No business may be conducted at such meetings other than for which the meeting was called.
SECTION 6 NOTICES OF MEETINGS: A written or printed notice, stating the place, day and hour of the meeting, and in case of a special meeting, the purpose for which the meeting is called, shall be caused to be delivered and/or mailed and /or posted by the officers or Members of the Board of Directors of the Association at least 10 days prior to the date of the meeting.
SECTION 7 QUORUM: At any meeting of the membership at least 20% of the voting members of the Association must be present for the purpose of transacting business. A majority vote of the members present shall rule.
ARTICLE III BOARD OF DIRECTORS
SECTION 1 CONSTITUTION: The Board of Directors shall consist of four (4) officers: President, Vice-President, Secretary and Treasurer and eight (8) members, with each member having voting rights, and representing each side of the lake. Directors shall be voted in at the Annual Association Meeting. Directors shall serve a term of three (3) years, and may be re-elected. Replacements shall be appointed by the President to serve until the next regular meeting of the Association, at which time the Association members shall vote to elect a new Director.
SECTION 2 RESPONSIBILITIES: The Board of Directors shall have charge of the general business of the Association
SECTION 3 ANNUAL MEETING: The Board of Directors shall meet as soon as possible after the Annual meeting of the Association, at such a place as may be convenient, for the purpose of organization and consideration of any business resulting from the Association meeting.
SECTION 4 QUORUMS: Four (4) members of the Board of Directors shall constitute a quorum for the transaction of any business.
SECTION 5 SPECIAL MEETINGS: The President may call a special meeting of the Board of Directors, giving reasonable prior notice of such meeting by mail, telephone or in person.
SECTION 6 VOTING RIGHTS. Each member of the Board of Directors who is present shall have (1) vote on any and all business properly coming before the meeting.
ARTICLE IV OFFICERS
SECTION 1 OFFICERS: Officers shall consist of a President, Vice-President, Secretary and Treasurer.
SECTION 2 ELECTIONS:
A. The President, Vice-President, Secretary and Treasurer shall be nominated and elected by the Association at the Annual business meeting. Officers may be re-elected.
B. The Association President or Vice-President shall call a Director’s meeting whenever the need arises.
SECTION 3 DUTIES OF OFFICERS:
PRESIDENT: The President shall preside at all meetings of the members and Directors, and shall exercise general control and supervision over the affairs of the Association, and over any officers, agents and employees as the Association may have. In event of the death, absence or inability of any officer the act, the President may act for that person, or appoint some person to fill that office until the next called meeting of the Directors or the Association. The President ( or Vice-President, acting in event of the disability or absence of the President), shall sign all deeds, leases, mortgages, contracts, notes or other instruments that may be authorized by the Directors or the Association, or any instruments as may be necessary to carry on the affairs of the Association.
VICE-PRESIDENT: The Vice-president shall act in the absence of the President, and shall fill the unexpired term of the President, should that office become vacant.
SECRETARY: The Secretary shall keep all records of the meetings of the Association and the Directors and shall make any necessary reports.
TREASURER: The Treasurer shall collect, deposit, and draw all funds of the Association under the guidance and direction of the Directors or the President, shall keep all financial records and shall make all necessary reports.
SECTION 4 VACANCIES: Vacancies shall be filled by the Board of Directors until the next meeting of the Association.
SECTION 5 REMOVALS: Any Officer may be removed by the majority vote of the members present at a meeting of the Association called for that purpose.
ARTICLE V FINANCES
A. All monies of the Association shall be kept and disbursed by the Treasurer. Appropriate records shall be kept by the Treasurer, showing income and disbursements. All monies received by the Treasurer shall be deposited in checking and/or savings accounts in an accredited banking institution in the area that is most convenient to the Treasurer. Any bank accounts must bear the name of the Association. The President and Vice-President shall be authorized to sign in absence or incapacity of the Treasurer. Two signatures are required.
B. The Treasurer shall pay all bills. Any unanticipated expenditures larger than $100.00 shall be approved by the Board of Directors.
C. The Treasurer shall account regularly to the Directors or the Association at any called meeting.
D. There shall be an auditing committee appointed by the President, and an annual audit be made of the Associations financial records.
ARTICLE VI DUES
The amount of the annual dues, if any, shall be set by the members at the Annual meeting or at a special meeting if necessary. Dues shall be payable to the Association on the first day of June. Payment of dues if any shall be a condition of membership. Dues follow the calendar year June-May.
ARTICLE VII AMENDMENTS
These bylaws may be amended by a two-thirds vote of the Officers and Directors, and shall be ratified by a simple majority at the next Association meeting.
ARTICLE IX THE INDIANA NOT FOR PROFIT CORPORATION ACT
The provisions of the Indiana General Not-for Profit Corporation Act, applicable to any matters not specifically covered by these bylaws and applicable to the Association, are here, by reference, incorporated and made a part of these bylaws.ROBERTS RULES OF ORDER
All meetings shall be conducted in accordance with Roberts Rules of Order.