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BY-LAWS
ASSOCIATION BY-LAWS
Amendments effective 9-5-09:
1) Revised fiscal year – Paragraph 4
2) Revised dues solicitation date - Paragraph 4
3) Revised annual meeting month - Paragraph 6
1. The Association shall be known as "LOVELADIES PROPERTY OWNERS ASSOCIATION."
2. It is organized for the maintenance of the existing high standards of the community, the betterment of government services for all of its residents, and such other purposes as are specified in the Articles of Incorporation.
3. Membership may be conferred by the Board of Trustees upon any owner of a home in that part of Long Beach Township known as Loveladies. Ownership of a home used at least part of a year as the residence of the owner or of property eventually intended for such purpose is a requisite of membership. Voting is limited to one vote per membership (a husband and wife owning a house or a group of houses shall have but one membership, and therefore, only one vote).
4. The membership year of the Association shall extend from May first of one year through April 30 of the succeeding year. The fiscal year will coincide with the calendar, January 1 thru December 31. The amount of dues for the next fiscal year shall be established by the membership at the annual meeting of the Association. Dues statements shall be mailed on or about March 1 of each year and are payable as stated in the dues statement.
5. Only members in good standing at the time of the Summer Meeting of the Association and whose dues are paid prior to the Annual Meeting shall be entitled to vote at the Annual Meeting or to hold office. For all other meetings, only members whose dues for the current fiscal year were paid sixty (60) days before the meeting shall be entitled to vote.
6. The annual meeting of the Association shall be held once each calendar year during the months of August or September, at such hour and place as may be designated by the President. At such meeting, the order of business shall include:
First: Minutes of the previous meeting
Second: Report of Officers and Board of Trustees.
Third: Election of Officers and Trustees.
Fourth: Old or New Business.
Fifth: Announcement of results of annual election
Additionally, the President may include such other items on the agenda as may be necessary for conduct of the meeting.
7. A quorum shall consist of not less than one-fifth of the membership or 50 members in good standing, whichever is least. A quorum of the Board of Trustees shall be a majority. At any meeting of the membership or of the Board of Trustees of the Association, a simple majority of those voting shall be required to conduct business.
8. If no quorum shall be present at the annual meeting, the status quo shall continue until the next annual meeting or until such other time as a special meeting shall be called for the transaction of annual meeting business, at which time the members present shall constitute a quorum.
9. Special meetings of the Association may be called by the Board of Trustees, or on written request of the President, or whenever thirty (30) voting members of the Association in good standing shall make a written request to the President for the same, specifying the object of the meeting. No topic will be discussed at such meeting, unless the intention to do so is set forth in the notice of the meeting, as hereinafter set forth.
10. Persons who are not members of the Association may attend meetings of the Association if invited by a member in good standing. Such persons shall not participate in any of the business of the meeting, unless called upon by the President. Attendance at meetings of the Board of Trustees may be by invitation of the President. Participation by an invited guest in the business of the Board shall be by vote of the majority of the Board.
11. All meetings of the Association shall be held at such place as is designated by the President.
12. Notice of every annual or special meeting of the Association shall be mailed by the Secretary to every member of the Association at lease fifteen (15) days before the date of such meeting.
13. The Board of Trustees shall consist of the four (4) officers of the Association and twelve (12) members who shall not be officers. At each Annual Meeting, one (1) of the four officers will be elected and shall hold office for a period of four years. At each Annual Meeting, four (4) members, who shall hold office for a period of three (3) years, shall be elected as Trustees. In addition, the retiring President of the Association will automatically become a member of the Board of Trustees, provided they continue to meet the membership requirements of Paragraph Three, and are current in payment of their dues.
13-A Tenure of all Trustees and Officers shall be limited to two consecutive full three (3) or four (4) year terms, respectively. After serving two consecutive full terms, an Officer or Trustee must step down for at least one term before being considered for re-election to the same position previously held.
Former Officers and Trustees who have served two consecutive terms, and who continue to meet the membership requirements of Paragraph Three, and are current in payment of their dues, shall be notified of all Trustees' meetings, and shall be authorized to attend and participate in the business of such meetings; provided, that such former Officers and Trustees shall not be entitled to vote.
14. The Officers of the Association shall be a President, a Vice-President, a Secretary, and a Treasurer. They shall hold office for four (4)) years or until their successors are elected and shall have qualified.
15. The president shall preside at all meetings of the Association and the Board of Trustees. He shall perform any other executive responsibilities that come up from time to time and such other duties as shall be imposed upon him by resolution of the Board of Trustees or of the membership. The President shall, together with one other Officer, sign all written contracts of the Association.
16. The President will create committees and appoint the members thereof as the need arises. This will include a Nominating Committee of at least three (3) members.
17. In the absence of the President, the Vice-President shall perform his duties. In the event of death or disability of the President, the Vice-President shall act until the Board of Trustees shall fill the office.
18. The Secretary shall keep the minutes and other official reports of the Association. He shall conduct the official correspondence of the Association. He shall keep all non-financial records, books, documents and papers relating to the Association, and perform such other duties as may be assigned to him by direction of the Board of Trustees. The Secretary, with the approval of the Officers, shall be empowered to secure such assistance as may be required by the duties of his office.
18(A) The Treasurer shall keep all financial records and books relating to the Association, and perform such other duties as may be assigned to him by direction of the Board of Trustees. He shall keep account of all monies received by him, and deposit the same in the name of the Association in such depository as shall be designated by the Officers of the Association. He shall not pay out or disburse any of the money of the Association except in such manner and for such purposes as shall be approved by the proper officers of the Association. The signatures of two officers shall be required on each check drawn on the Association’s accounts. At each annual meeting of the Association, he shall submit a detailed report of the financial condition of the Association for the preceding fiscal year.
19. The Board of Trustees may fill any vacancy among the officers or Board of Trustees by vote of a majority of those present at a regular or special meeting of the Board.
20. Amendments to the Bylaws may be made at any regularly called or special meeting of the Association provided that written notice of the proposed amendment shall have been given to all members by the Secretary at least fifteen (15) days before the date of said meeting.
21. Ordinary operating expenses of the Association may be expended on approval of the officers. In addition, during any fiscal year extraordinary expenses not to exceed Five Thousand Dollars ($5,000) may be approved by the Board of Trustees. Expenditures exceeding this amount must have prior approval of the membership at the Annual Meeting or at a special meeting called pursuant to Paragraph Nine of these bylaws. Continuing or recurring salaries or retainers shall not be considered as falling within the foregoing limitations, but may be expended in addition thereto.