BYLAWS OF FOREST LAKES OWNERS ASSOCIATION

Article | I | II | III | IV | V | VI | VII | VIII | IX | X | XI | XII | XIII |

ARTICLE VI

COMMITTEES

SECTION 1. Committees of Directors. The Board of Directors, by resolution adopted by a majority of the Directors, may designate and appoint one or more committees, each of which shall consist of one or more Directors, which committees, to the extent provided in said resolution, shall have and exercise the authority of the Board of Directors in the management of the Corporation, except that no such committee shall have the authority of the Board of Directors in reference to amending, altering or repealing the Bylaws; electing, appointing or removing any member of any such committee or any Director or officer of the Corporation; amending or restating the Articles of Incorporation; adopting a plan of merger or a plan of consolidation with another corporation; authorizing the sale, lease, exchange or mortgage of all or substantially all of the property and assets of the Corporation; authorizing the voluntary dissolution of the Corporation or revoking proceedings therefore; adopting a plan for the distribution of the assets of the Corporation; or amending, altering or repealing any resolution of the Board of Directors which by its terms provides that it shall not be amended, altered or repealed by such committee. The designation and appointment of any such committee and the delegation thereto of authority shall not operate to relieve the Board of Directors, or any individual Director, of any responsibility imposed upon it or him/her by law.

SECTION 2. Other Committees. Other committees can be formed by the Board of Directors, with their authority to complete projects coming from the Board.

SECTION 3. Term of Office. Each member of a committee shall continue as such until the next annual meeting of the members of the Corporation and until his successor is appointed, unless the committee shall be sooner terminated, or unless such member be removed from such committee, or unless such member ceases to qualify as a member thereof.

SECTION 4. Chairperson. One member of each committee shall be appointed as chairperson by the President of the Board of Directors.

SECTION 5. Vacancies. Vacancies in the membership of any committee may be filled by appointments made in the same manner as provided in the case of the original appointments.

SECTION 6. Quorum. Unless otherwise provided in the resolution of the Board of Directors designating a committee, a majority of the whole committee shall constitute a quorum, and the act of a majority of the members present at a meeting at which a quorum is present shall be the act of the committee.

SECTION 7. Rules. Each committee may adopt rules for its own government not inconsistent with these Bylaws or with rules adopted by the Board of Directors.

ARTICLE VII

CONTRACTS, CHECKS, DEPOSITS AND FUNDS

SECTION 1. Contracts. The Board of Directors shall authorize any officers or agents of the Corporation to enter into any contract or execute and deliver any instrument in the name of and on behalf of the Corporation, and such authority may be general or confined to specific instances.

SECTION 2. Checks, Drafts, etc. All checks, drafts or orders for the payment of money, notes or other evidences of indebtedness issued in the name of the Corporation, shall be signed by two of the following officers: Treasurer, President, Vice President, or Secretary, with two signatures required on each check. No check recipient of a corporate check may sign said check for his/her own benefit. A minimum of two officers must sign each corporate issued check.

SECTION 3. Deposits. All funds of the Corporation shall be deposited at least twice per month, but no later than seven (7) business days after the monthly Forest Lakes Owners Association Board meeting, to the credit of the Corporation in such banks, trust companies or other depositories as the Board of Directors may select.

SECTION 4. Gifts. The Board of Directors may accept on behalf of the Corporation any contribution, gift, or devise for the general purposes or for any special purpose of the Corporation.

ARTICLE VIII

PROOF OF MEMBERSHIP

SECTION 1. Proof of Membership. The Board of Directors may provide for the issuance of Membership Cards evidencing membership in the Corporation, which shall be in such form as may be determined by the Board. Such Membership Cards shall be signed by the President or Vice President and by the Secretary or an Assistant Secretary. The name and address of each member and the date of issuance of the Membership Card shall be entered on the records of the Corporation. If any Membership Card shall become lost, mutilated or destroyed, a replacement Membership Card may be issued upon such terms and conditions as the Board of Directors determines.

SECTION 2. Issuance of Membership Cards. When a member has been qualified for membership and has paid annual dues that may be required, a Membership Card, along with a decal, shall be issued.

ARTICLE IX

BOOKS AND RECORDS

The Corporation shall keep correct and complete books and records of account and shall also keep minutes of the proceedings of its members, Board of Directors and committees having any of the authority of the Board of Directors, and shall keep at its registered or principal office a record giving the names and addresses of the members entitled to vote. All books and records of the Corporation may be inspected by any member, or his agent or attorney, for any proper purpose at any reasonable time.

ARTICLE X

FISCAL YEAR

The fiscal year of the Corporation shall begin on the first day of January and end on the last day of December in each year.

ARTICLE XI

DUES

SECTION 1. Annual Dues. The Board of Directors may determine the amount of initiation fee if any, and annual dues payable to the Corporation by members of each class. Persons wishing to vote in the current year election must have their membership dues paid thirty (30) days prior to the annual meeting.

ARTICLE XII

SEAL

The Board of Directors shall provide a corporate seal, which shall be in the form of a circle and shall have inscribed thereon the name of the Corporation and the words "Incorporated, Arizona, 1967".

ARTICLE XIII

AMENDMENTS TO BYLAWS

Beginning April, 2003, any concerns by the membership to the bylaws should be addressed to the Board via a joint Board/members-at-large committee. Any proposed changes to the Articles of Incorporation and/or Bylaws must be presented to the membership at least thirty (30) days prior to a regular membership meeting by being posted on the website and at the Library. The final approval of any changes lies with the Board of Directors, by a 2/3 vote of the full Board. 

Approved by the Board of Directors on:____________________________
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Updated 3/21/2009