BYLAWS OF IVANHOE-WATERFORD HOMEOWNER'S ASSOCIATION, INC.
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ARTICLE VII - FINANCES AND ASSESSMENTS
- A. FISCAL MANAGEMENT. The provisions for the fiscal management
of the Association contained in section 9. , 10., 13., and 14. and the other Sections of
the Declaration are hereby incorporated by reference and the Board of Directors acting on
behalf of the Corporation are hereby empowered to carry out the provisions of the
Declaration in accordance with the terms thereof.
- B. ANNUAL STATEMENTS. The Board of Directors shall cause to have
the Association's books and records reviewed each year by a certified public accountant
and to have such certified public accountant prepare an annual balance sheet and operating
statement for the Association for each fiscal year.
- C. DEPOSITORY. The depository of the Association shall be such
bank or banks as shall be designated from time to time by the Board of Directors. In
addition, the Board of Directors may invest the funds of the Association in government
secutities or certificates of deposits or savings accounts of banks and savings and loan
associations from time to time designated by the Board of Directors. Withdrawal of monies
from accounts shari be only be check signed by persons as authorized by the Board of
Directors.
ARTICLE VII - FINANCES AND ASSESSMENTS
- These Bylaws may be amended as provided in the Articles of Incorporation.
Articles I and II - Purpose and Powers -
Definitions
Article III - Membership and Voting
Article IV - Members Meetings
Article V - Directors
Article VI - Officers
Articles VII and VIII - Finances & Assessments and
Amendments
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© 1997 Pete LaMoia