OAKWOOD ESTATES

By-Laws

ARTICLE I – NAME
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The name of the Association shall be the OAKWOOD ESTATES HOMEOWNERS ASSOCIATION, INC. and it shall be a non-profit, incorporated organization.

ARTICLE II – OBJECTIVE
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The object of this Association and the general nature of its business shall be to improve the quality of life in Oakwood Estates. Such programs and projects are to be financed and implemented by the Oakwood Estates Homeowners Association, Inc. Such programs and projects shall be approved by the general membership at the Annual Meeting and the costs will be included in the yearly budget.

ARTICLE III – TERRITORY
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Section 1. The territory of the Association shall be the Oakwood Estates Subdivision, Sections I, II, III, IV, V and VI as defined in the covenant.

Section 2. The territory may be amended at an Annual or Special meeting of the membership.

ARTICLE IV – MEMBERSHIP
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Section 1. Membership in the Association shall be open to any homeowner, within the Oakwood Estates Subdivision, upon payment of annual dues. Each paid household shall be entitled to one (1) vote upon matters being presented to the membership at the Annual or Special meeting of the membership.

ARTICLE V – OFFICERS/BOARD OF DIRECTORS
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Section 1. The Association shall be governed by a Board of Directors consisting of the following officers and area representatives:

President
Vice-President
Treasurer
Secretary
Representative of Area 1
Representative of Area 2
Representative of Area 3
Representative of Area 4
Representative of Area 5
Representative of Area 6

Each Area Representative shall become a Board Director.

Section 2. The President shall preside at all meetings of the Association and the Board of Directors. The President shall appoint a nominating committee of not less than three (3) or more than five (5) members not later than April 15 of each calendar year. No more than one (1) member of the committee shall be selected from each area. The nominating committee shall nominate a President, Vice-President, Secretary, Treasurer and three (3) representatives. This list of nominees shall be given to the President not later than May 15. The nominees must agree to serve in such office and agree to have their phone numbers made available to the public, prior to presenting their names.

Section 3. Officers shall be elected by a majority secret ballot of those present or by absentee ballot at the Annual Meeting of the Association after the members present have been given an opportunity to present additional nominees from the floor.

Term of office shall be for one (1) year. Officers may be elected for additional terms subject to normal election procedures.

ARTICLE VI – DUTIES OF OFFICERS
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Section 1. President: The President shall preside at all meetings of the membership. The President shall appoint all committee chairpersons and shall be ex-officio member of all committees except the nominating committee. The President shall appoint such special committees as may be authorized by the body and shall render a condensed annual report. The President shall perform any other duties generally associated with this office.

Vice-President: The Vice-President shall assist the President and in addition, shall be the Membership Chairperson. In the event of the absence of incapability of the President, the Vice-President shall assume and conduct the duties of the President.

Treasurer: The Treasurer shall be custodian of the Association funds. The Treasurer shall disburse same as directed by the Board of Directors. All checks shall be signed by the President and the Treasurer.

Secretary: The Secretary shall record minutes of the Annual and Special meetings and shall be in charge of the records of the Association, as directed by the President. The Secretary shall also record the minutes of the Board of Directors meetings.

ARTICLE VII – ORGANIZATION AND ELECTIONS
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Section 1. The management and control of the Oakwood Estates Homeowners Association, Inc. shall be vested in the Board of Directors. The Board of Directors shall consist of the President, Vice-President, Treasurer, Secretary, Past President and one (1) representative from each area, as defined in Article V, Section 2.

Section 2. The Area Representative shall be elected by secret ballot of the membership of their area at the Annual meeting after the members present have been given an opportunity to present additional nominees from the floor. The representative must reside in the area they represent. Their term of office shall be for two (2) years.

Section 3. The President shall preside at all Board Meetings and shall report to the membership at the Annual and Special meetings of actions taken by the Board.

Section 4. The Board of Directors shall have the power to execute agreements binding upon the Association, implement programs or special projects beneficial to the community, expend such funds as are deemed necessary and appropriate, and to do such other things as may be necessary to carry on the business of the Association. The funds expended shall not exceed $1000 without prior approval by a majority vote of those present plus any absentee ballots at an Annual or Special meeting.

A detailed budget shall be presented at the Annual Membership Meeting outlining all planned expenditures. Each expenditure must be explained. Once the budget has been approved by two-thirds (2/3) of the membership present at the Annual Meeting, the Board of Directors need no further approval on such expenditures. This shall make null and void the $1000 approval requirement except for expenditures not covered by the budget.

Section 5. If a representative or officer resigns or leaves the community before their term of office is complete, a replacement shall be appointed at the next Board of Directors meeting to fill the unexpired term. The representative vacancy must be filled by an individual residing in the section in which the former representative resided.

Section 6. Quorum: A quorum shall consist of seven (7) Board Members in attendance at any meeting of the Board of Directors.

ARTICLE VIII – MEETINGS
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Section 1. Board of Directors shall meet on the second Tuesday of every month. The meeting will be held at the home of one of the Board Members. Each Board Member shall hold the meeting at their home at least once during the term. The membership shall be notified of the time and place of each Board Meeting. Any member is welcome to attend a Board Meeting and address the Board, but cannot vote on any motions. The Board at its option can go into a closed session, thus eliminating any outside attendance.

Section 2. Annual Membership meetings shall be held the second Thursday in May of each year. The purpose of this meeting will be to elect new officers and area representatives, approve a budget for the new year, review past accomplishments, approved financial report and expenditures and discuss other business which might come before the Board.

Section 3. A quorum shall consist of two-thirds (2/3) of the total membership being present either in person or represented by absentee ballot vote. If a quorum is not represented, the President shall reschedule the meeting. All absentee ballot votes must be written.

A Special meeting of the general membership can be called by the President or by a request submitted to the President signed by twenty percent (20%) of the membership. Written notice must be given at least seven (7) days prior to the meeting date. Such notice shall list the date, time and place in addition to the purpose of this meeting.

ARTICLE IX – DUES AND SPECIAL ASSESSMENTS
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Section 1. Each household of the Association shall pay non-refundable dues to the Treasurer annually in the amount of $40. Dues must be paid prior to May 1 of each year in order to be eligible to vote at the Annual Meeting. Dues may be changed at the Annual Meeting of the membership, upon approval by a majority vote of the quorum.

Section 2. From time to time, as necessity may dictate, special assessments may be required of the membership upon fifteen (15) days written notice, and upon written approval of two-thirds (2/3) of the membership, by the time of the next scheduled Board meeting.

ARTICLE X – AMENDMENTS
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Section 1. These by-laws may be amended by the membership at any Annual Meeting, Special meeting, or via a write-in ballot in lieu of a meeting provided such amendment shall be approved by two-thirds (2/3) vote of the total membership casting votes in person or through absentee ballot.

ARTICLE XI – MISCELLANEOUS
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Section 1. The fiscal year of the Association shall run from January 1 through December 31 of the same year.

Section 2. Robert’s Rules of Order shall govern all meetings of the Association. THE PRESIDENT MAY APPOINT A PARLIAMENTARIAN TO SERVE AT THE ANNUAL AND SPECIAL MEETINGS.

Section 3. Oakwood Estates defined by Area:

Area I- Lots 1 - 51
Area II- Lots 52 - 104
Area III- Lots 105 - 138
Area IV- Lots 202 - 245
Area V- Lots 139 - 151
Area VI- Lots 152 – 199

ARTICLE XII – DISSOLUTION
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Section 1. The Oakwood Estates Homeowners Association, Inc. may be dissolved by two-thirds (2/3) vote of the membership. All liquid assets are to be donated to a Charitable Organization.

Section 2. Said Charitable Organization to be selected and approved by a two-thirds (2/3) vote of the quorum present at a Special meeting.

Retyped on February 6, 2003 incorporating revisions as approved at quarterly meeting, May 21, 1998.