TEL3 By-Laws (4 of 10)
... the purpose. A Director elected to a vacancy by the remaining Directors shall be elected for the unexpired portion of the term of Director being replaced.
Any Director may be recalled or removed from office by the affirmative vote of members representing at least two-thirds (2/3) of the total voting power of the Corporation at a general or special meeting duly called for the purpose. The resulting vacancy shall be filled by election by the members of the Corporation and not by the Directors themselves,
Section 3. Functions and Powers of the Board. The Corporation shall be governed and its affairs managed and controlled by the Board. The powers of the Board shall be granted by these By-Laws, the Condominium Act and the Corporation Code, and the Master Deed of the Project. It shall do such things and acts as the Corporation may lawfully do and are not by law or by the Articles of Incorporation or these By-Laws, or by the Master Deed directed or required to be exercised or done by the members of the Corporation.
Without limiting the general nature of the foregoing powers. the Board shall have the power to enforce the limitations, restrictions and other conditions contained in the Master Deed of the Project; promulgate rules and regulations concerning the use, enjoyment and occupancy of the units, common areas and other properties in the Project to make. impose and collect assessments against the members as unit owners to defray the costs and expenses of the Project and the Corporation; and, to secure by legal means the observance of the provisions of the Condominium Act, the Corporation Code. the Master Deed, the Articles of Incorporation, these By-Laws. and the rules and regulations promulgated by the Board in accordance herewith. The members of the Corporation bind themselves to comply faithfully with all of these provisions.
The Board may delegate in whole or in part such powers as it may deem necessary and/or proper and which could lawfully be delegated, to any Director or committee or officer of the Corporation. All contracts, agreements and commitments for and in behalf of the Corporation shall be executed under the authority of the Board, by the Chairman thereof or other duly-authorized officers of the Corporation.
Contracts entered into by the Board for periods longer than two (2) years (long-term contracts) may be rescinded or terminated by the Corporation only upon two-thirds (2/3) vote of all members of the Board -AND- by at least two-thirds (2/3) vote of all the members of the Corporation in a meeting where there is a quorum.
This particular paragraph of the By-Laws may be amended only upon two-thirds (2/3) vote of all members of the Board at a meeting where there is a quorum -AND- by at least two-thirds (2/3) vote of alt members of the Corporation likewise at a meeting where there is a quorum.
Section 4, Meetings. The organizational meeting of the Board shall be held immediately after their election. Meetings of the Board shall be held at the principal office of the Corporation or at such other place as may be agreed upon by the Directors. Any Director may call for a meeting by means of a written notice delivered personally to each Director at least two (2) days before the intended date of...
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