Thursday, January 8, 2009

Our Bylaws

People have expressed an interest in forcing an election, our bylaws provide for this. I think perhaps it would be better to elect a new slate of officers as per our bylaws where it is clearly stated; “at all times the Owners of the Commercial units will elect 20 % of the Board, and the Owners of the Residential Units and Cabana Units will elect 80% percent of the Board”.{This does call to question weather our present Board is in fact legal, and would their decisions be binding…} “The numbers of Directors shall be increased or decreased so as to accomplish “full” Directors for commercial Unit Owners.”

“The annual meeting for the purpose of electing Directors and transacting any other authorized business will be held at 8pm on the first Tuesday of April each year;”… “At the Annual meeting, the Members will elect a Board by plurality vote (cumulative voting prohibited) and will transact such other business as may properly be brought before the meeting.”

Our Bylaws will protect us if we use them, they can also be used against us, to terminate the condo association and dictate the sale of our building if it is no longer viable to operate as such.

I would be happy to email anyone a copy of our bylaws. I encourage all to familiarize themselves with your individual and membership association rights. We all have an investment here. While we may not have a say in how our other investments are doing, we will have no one to blame but ourselves if our investment in Ocean Manor tanks. Anyone who would like a copy of our Bylaws can reach me @ djm.gfg@gmail.com.

Happy frickin new year!

Posted by
DJM

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