In the Interim’s Board determination to continue to move our community forward, several non-visible items are in the works. These include standardizing policies, handbooks and procedures.
One of the most important procedures is how we conduct business day-to-day throughout a year. These procedures are located within our By-Laws.
The information found within our By-Laws comes from our founding documents such as our Articles of Incorporation and Declaration. We’ve made some revisions that also include pertinent information from North Carolina’s Governing Statutes 47F and 55A.
In order to change or update our founding documents, we need a minimum of 67% of our qualified/eligible votes but that’s not required for our By-Laws. We only require a majority vote of our Board of Directors and those present at the identified meeting.
Therefore, it is with great pleasure to announce the Board will be presenting our new updated By-Laws at the March 10th meeting (this Saturday).
To review the new draft version of our By-Laws, click Revised By-Laws.
See you Saturday,
Thanks for all the work. Question: Is it 67% of Votes – OR – 67% of the Members to change/update our Founding documents?
After years of dysfunction – good to have a Board trying to work on the issues here – and NOT for their own PERSONAL $$$ gain!! 🙂
Thanks again!
According to our Declaration (Covenants & Restrictions) Part 6 General Reservation, Article II General Reservations and Conditions, Section 3: Duration and Effect of Declaration, it states “This Declaration and all of the terms, provisions, conditions, covenants, warranties, limitations, and applications of each and every Part thereof shall constitute a covenant running with the land subject thereto, whether by this original Declaration or a Supplemental Declaration incorporating the same by reference. This Declaration shall exist and shall be fully binding upon said lands and all parties claiming an interest therein during the Development Period and shall continue in effect thereafter unless and until two-thirds in number of the then record Owners of Units of PML Properties or other designated parcels of PML Property subject to this Declaration or any Supplemental Declaration shall execute an appropriate written document agreeing to a change, modification, or termination of all or any portion of the Declaration and said written document shall be duly probated and recorded in the Office of the Register of Deeds of Burke County, North Carolina, and in the Office of the Register of Deeds of any adjoining County in which a portion of the properties thereby affected might be located. {Amended, per 2nd Amendment, 1975}”
Two-thirds in number of the then record Owners of Units of PML Properties… I read this as Members because it states Owners of Units not two-thirds of the units of PML Properties and it does not say two-thirds of the votes of units of PML properties.