Bylaws
ARTICLE I
NAME
1.1 NAME. The name of the
organization shall be STONE LAKE ESTATES HOMEOWNERS ASSOCIATION, INC.,
hereinafter called the "Association".
ARTICLE II
PURPOSE
AND OWNERS OBLIGATION
2.1 PURPOSE. The purpose for which
this non-profit Association is formed is to govern, operate and maintain the
Common Properties (as defined in Paragraph 3.6 hereof) situated in Stone Lake
Estates Section 2, an addition to the City of Plano, Collin County, Texas
("Stone Lake Estates Section 2"), according to the Plat thereof
("the Plat") recorded in Cabinet H, Page 286, Map Record, Collin
County, Texas.
2.2 OWNERS OBLIGATION. All present
or future owners, tenants or future tenants of any or all of the One Hundred
Seventy Five (175) lots ("the "Lots") in the Stone Lake Estates
Section 1, Stone Lake Estates Section 2 and Stone Lake Estates Section 3
Additions (the Lots being sometimes hereinafter referred to as the
"Property"), or any other person who might use the facilities of the
Common Properties in any manner, are subject, to the regulations set forth in
these Bylaws. The mere acquisition or rental of any of the Lots or the mere act
of occupancy of any of the Lots will signify that these Bylaws are accepted,
ratified and will be strictly followed.
ARTICLE III
DEFINITIONS
AND TERMS
3.1 MEMBERSHIP. Any person on
becoming a record owner ("Owner") of all or any part of a Lot shall
automatically become a Member ("Member") of this association and be
subject to these Bylaws. Such membership shall terminate without any formal
Association action whenever such person ceases to own all or any part of a Lot.
Such termination shall not relieve or release any such former Owner from any
liability or obligation incurred under or in any way connected with the
Property during the period of such ownership and membership in this
Association, or impair any rights others may have against such former Owner and
Member arising out of or in any way connected with such ownership and
membership and covenants and obligations incident thereto.
No certificate of stock shall be
issued by the Association, but the Board of Directors, if it so elects, may
issue one (1) Membership Card (herein so called) per Lot. Such Membership Card
shall be surrendered to the Secretary whenever ownership of the Lot designated
therein is terminated.
3.2 VOTING. The Association shall
have three (3) classes of voting membership.
CLASS A: Class A
members shall be Members, other than Class B and Class C Members. Class
which they hold the interest required for membership. When more than one person
holds such interest in any Lot, all such persons shall be Members, and the vote
for such Lot shall be exercised as they, among themselves, determine, but in no
event shall more than one (1) vote be cast with respect to any such Lot.
CLASS B: Class B Members shall be
any bona fide Owners who are engaged in the process of constructing a
residential dwelling on any Lot for sale to a consumer. Class B Members shall
be non-voting members of the Association. The Class B Membership shall cease,
and each Class B Member shall become a Class A Member:
(i)
membership equals the total number of votes outstanding in the Class C membership;
or
(ii) on the
tenth (10th) anniversary of the date hereof, whichever occurs first in time.
CLASS C: The Class C Member shall be
Declarant (hereinafter defined). The Class C Member
shall be entitled to ten (10) votes for each Lot which it owns and for each Lot
owned by all Class B Members. Notwithstanding the voting rights within the
Association, until the Class C Member no longer owns record title to any Lot,
or until January 31, 2002, whichever occurs first in time, the Association
shall take no action which is inconsistent with the Declaration of Covenants,
Conditions and Restriction (hereinafter defined) without the consent and
approval of the Class C Member. As used herein, "Declarant"
shall mean and refer to Tiburon Development, Inc. and the successors and
assigns thereof, as provided in the Declaration.
3.3 MAJORITY OF LOT OWNERS: NOTICE.
Subject to the provisions hereof, any action pertaining to special assessments
for capital improvements, as authorized in the Declaration, shall require the
assent of the majority of the vote of those who are voting in person or by
proxy at a meeting duly called for that purpose, written notice of which shall
be given to all Members not less than ten (10) days nor more than twenty (20)
days in advance and shall set forth the purpose of such meeting. As used in
these Bylaws, a "majority" shall mean the vote of at least fifty-one
percent (51%) of the votes entitled to be cast.
3.4 QUORUM.
(a) The quorum required for any
action referred to in Paragraph 3.3 hereof shall be as follows:
At the first meeting called, the
presence at the meeting of Members, or of proxies, entitled to cast sixty
percent (60.0%) of all of the votes of each voting class shall constitute a
quorum. If the required quorum is not present at the first meeting, one
additional meeting may be called, subject to the notice requirement hereinabove
set forth, and the required quorum at such second meeting shall be one-half
(1/2) of the required quorum at the preceding meeting; provided, however, that
no such second meeting shall be held more than sixty (60) days following the
first meeting.
(b) The quorum required for any
action other than that action referred to in Paragraph (a) of this Section
shall be as follows:
At the first meeting called, the
presence at the meeting of Members, or of proxies, entitled to cast thirty
percent (30%) of all of the votes of each voting class shall constitute a
quorum. If the required quorum is not present at the first meeting, one
additional meeting may be called, subject to the notice requirement hereinabove
set forth, and the required quorum at such second meeting shall be one-half
(1/2) of the required quorum at the preceding meeting; provided however, that
no such second meeting shall be held more than sixty (60) days following the
first meeting.
(c) As an alternative to the
procedure set forth above, any action referred to in Paragraph (a) of this
Section may be taken with the assent given in writing and signed by Members who
hold more than sixty percent (60%) of the outstanding votes of each voting
class; and any action referred to in Paragraph (b) of this Section may be taken
with the assent given in writing and signed by Members who hold more than
thirty percent (30%) of the outstanding votes of each voting class.
3.5 PROXIES. Votes may be cast in
person or by proxy. Proxies must be filed with the Secretary before the
appointed time of each meeting.
3.6 COMMON PROPERTIES. As used in
these Bylaws the term "Common Properties" shall mean and refer to all
areas of land within the Property which are known, described or designated as
common access easements, common areas, recreational easements or open spaces on
any recorded subdivision plat of the Property or in the Declaration or intended
for or devoted to the common use and enjoyment of the Members of the
Association, together with any and all improvements that are now or may
hereafter be constructed thereon.
3.7 DECLARATION. As used in these
Bylaws, the term "Declaration" shall mean and refer to the
Declaration of Covenants, Conditions and Restrictions for Stone Lake Estates
executed by Declarant on the 25th day of February,
1992, recorded under File No. 92-0014674 of the Land records of Collin County,
Texas, as amended from time to time.
ARTICLE IV
ADMINISTRATION
4.1 ASSOCIATION RESPONSIBILITIES.
The Owners of the Lots will constitute the Association, which will have the
responsibility of administering the Common Properties through a Board of
Directors.
4.2 PLACE OF MEETINGS. All annual
and special meetings of the Association shall be held at the principal office
of the Association or at such other suitable and convenient place as may be
permitted by law and from time to time fixed by the Board of Directors and
designated in the notices of such meetings.
4.3 ANNUAL MEETINGS. The first
annual meeting shall be held the first Wednesday of December 1994 and
additional annual meetings shall be held the first Wednesday of December each
year thereafter.
4.4 SPECIAL MEETINGS. It shall be
the duty of the President of the Association to call a special meeting of the
Owners as directed by resolution of the Board of Directors or upon a petition
signed by at least two (2) of the Owners and presented to the Secretary. The
notice of any special meeting shall state the time and place of such meeting
and the purpose thereof.
4.5 NOTICE OF MEETINGS. The
Secretary shall mail notices of annual and special meetings to each Member of
the Association, directed to the last known post office address of the Member,
as shown on the records of the Association, by uncertified mail, postage
prepaid. Such notice shall be mailed not less than ten (10) days nor more than
twenty (20) days before the date of such meeting and shall state the date, time
and place of the meeting and the purpose or purposes thereof. In lieu of
mailing notice as herein provided, such notice may be delivered by hand or left
at the Member’s residence in his absence. If requested, any mortgagee of record
or its designee may be entitled to receive similar notice.
4.6 ADJOURNED MEETING. If any
meeting of Owners cannot be organized because a quorum has not attended, the
Owners who are present, either in person or by proxy, may adjourn the meeting
until a quorum is attained, as provided in Paragraph 3.4 hereof.
4.7 ORDER OF BUSINESS. The order of
business at all meetings of the Owners of Lots shall be as follows:
a. Roll call.
b. Proof of notice of meeting or
waiver of notice.
c. Reading of minutes of preceding
meeting.
d. Reports of officers.
e. Reports of committees.
f. Election of Directors, if
applicable.
g. Unfinished business.
h. New business.
ARTICLE V
BOARD
OF DIRECTORS
5.1 NUMBER AND QUALIFICATION. The
initial number of directors of this Association shall be 3, elected at the
organizational meeting. Each of these directors will be appointed by "
association meeting to be held the first Wednesday of December 1994. At the
first annual meeting of the Association the following Directors shall be
elected:
Position Term
President One (1) year
Vice President One (1) year
Treasurer One (1) year
Secretary One (1) year
Director of Landscaping
One (1) year
Director of Communications One (1)
year
Director of Social Activities One
(1) year
Director of Safety One (1) year
Director of Planning/Zoning One (1)
year
At the first meeting of the members
of the Association, and in subsequent years, the Directors shall be elected by
secret ballot at the annual meeting. At such election the members or their
proxies may cast as many votes as they are entitled to exercise under the
provisions of the declaration.
In the event the Association deems
it proper, an off number, less than nine (9) but not less than five (5) may be
elected to carry out the duties of the originally stated nine (9) positions.
The initial directors shall serve in
the positions of President, Vice President and Secretary/Treasurer until their
successors are elected.
5.2 POWERS AND DUTIES. The Board of
Directors shall have the powers and duties necessary for the administration of
the affairs of the Association and for the operation and maintenance of the
Common Properties, specifically including, without limitation, the powers and
duties set forth in the Declaration. Subject to the provisions of the preceding
sentence, the Board of Directors may do all such acts and things that are not
by these Bylaws or by the Declaration directed to be exercised and done by the
Owners.
5.3 OTHER POWERS AND DUTIES. The
Board of Directors shall have the following duties:
(a) To administer and enforce the
covenants, conditions, restrictions, uses, limitations, obligations and all
other provisions set forth in the Declaration.
(b) To establish, make and enforce
compliance with rules, conditions, restrictions, limitations and all other
provisions necessary for the orderly operation, use and maintenance of the
Common Properties. (A copy of such rules shall be delivered or mailed to each
Member promptly upon the adoption thereof.)
(c) To keep in good order, condition
and repair the Common Properties and all items of personal property used in the
enjoyment of the Common Properties.
(d) To insure and keep insured the
Common Properties in an amount equal to maximum replacement value of the
improvement thereon, if any. Further to obtain and maintain comprehensive
liability insurance covering the Common Properties in amounts not less than One
Hundred Thousand Dollars ($100,000.00) per person, Three Hundred Thousand
Dollars ($300,000.00) per accident and Fifty Thousand Dollars ($50,000.00) for
property damages, plus a One Million Dollar ($1,000,000.00) umbrella policy. To
insure and keep insured all the fixtures, equipment and personal property
acquired by the Association for the benefit of the Association
, the Owners of the Lots and their First Mortgagees.
(e) To fix, determine, levy and
collect the assessments to be paid by each of the Owners; and by majority vote
of the Board to adjust, decrease or increase the amount of the monthly
assessments, subject to provisions of the Declaration; to levy and collect special
assessments in order to meet increased operating or maintenance expenses or
costs, and additional capital expenses. All quarterly or other assessments
shall be in itemized statement form and shall set forth in detail the various
expenses for which the assessments are being made.
(f) To collect delinquent
assessments by suit or otherwise and to enjoin or seek damages from an Owner,
as provided in the Declaration and by these Bylaws.
(g) To protect and defend the Common
Properties from loss and damage by suit or otherwise.
(h) To borrow funds in order to pay
for any required expenditure or outlay; to execute all such instruments
evidencing such indebtedness which shall be the several obligation
of all of the Owners in the same proportion as their interest in the Property.
(i) To
enter into contracts within the scope of their duties and power.
(j) To establish a bank account for
the common treasury for all separate funds which are required or may be deemed
advisable by the Board of Directors.
(k) To keep and maintain full and
accurate books and records showing all of the receipts, expenses or
disbursements and to permit examination thereof at any reasonable time by each
of the Owners and any First Mortgagee of a Lot. The Association shall cause to
be prepared and delivered annually to each Owner a statement showing all
receipts, expenses or disbursements since the last such statement. Such
financial statements shall be available to any First Mortgagee of a Lot, on
request, within ninety (90) days following the fiscal year end of the
Association. Any Member may require that the Association cause to be prepared
and delivered, at such Member’s expense, an audited financial statement of the
Association. In addition, each Member shall have the right to inspect the books
and records of the Association during normal business hours.
(l) To meet at least once each
calendar year.
(m) To designate and employ the
personnel necessary for the maintenance and operation of the Property.
(n) In general, to carry on the
administration of this Association and to do all of those things, necessary and
reasonable, in order to carry out the communal aspect of the use and enjoyment
of the Common Properties.
5.4 VACANCIES. Vacancies on the
Board of Directors caused by any reason other than the removal of a Director by
a vote of the Association, shall be filled by vote of
the majority of the remaining Directors, even though they may constitute less
than a quorum. Each Director so elected shall serve out the remaining term of
his predecessor.
5.5 REMOVAL OF DIRECTORS. At any
regular or special meeting of the Association duly called, any one (1) or more
of the Directors may be removed with or without cause by a majority of the
Owners, and a successor may then and there be elected to fill the vacancy thus
created. Any Director whose removal has been proposed by the Owners shall be
given opportunity to be heard at the meeting. Any Director who is absent from
three (3) consecutive Board meetings during one fiscal year, is automatically
removed.
5.6 ORGANIZATION MEETING. The first
(1st) meeting of a newly elected Board of Directors shall be held within ten
(10) days of election at such place as shall be fixed by the Directors at the
meeting at which such Directors were elected, and no notice shall be necessary
to the newly elected Directors in order legally to constitute such meeting,
providing a majority of the whole Board shall be present.
5.7 REGULAR MEETINGS. Regular
meetings of the Board of Directors may be held at such time and place as shall
be determined, from time to time, by a majority of the Directors, but at least
one such meeting shall be held every other month to total no less than six (6)
meetings in each fiscal year.
5.8 SPECIAL MEETINGS. Special
meetings of the Board of Directors may be called by the President or Secretary,
or upon the written request of at least two (2) Directors. The President or
Secretary will give three (3) days personal notice to each Director by mail,
telephone or telegraph, which notice shall state the time, place (as
hereinabove provided) and purpose of the meeting.
5.9 TELEPHONIC MEETINGS. The Board
may participate in and hold a meeting by means of conference telephone or
similar communication equipment by which all persons participating in the
meeting can hear each other. Participation in such a meeting shall constitute
presence in person at the meeting, except where a person participates in the
meeting for the express purpose of objecting to the transaction of any business
on the ground that the meeting is not lawfully called or convened.
5.10 WAIVER OF NOTICE. Before or at
any meeting of the Board of Directors, any Director may in writing waive notice
of such meeting and such waiver shall be deemed equivalent to the giving of
such notice. Attendance by a Director at any meeting of the Board shall be a
waiver of notice by him of the time and place thereof. If all the Directors are
present at any meeting of the Board, no notice shall be required and any
business may be transacted at such meeting.
5.11 BOARD OF DIRECTORS QUORUM. At
all meetings of the Board of Directors, a majority of Directors shall
constitute a quorum for the transaction of business, and the acts of the
majority of the Directors present at a meeting at which a quorum is present
shall be the acts of the Board of Directors. If at any meeting of the Board of
may be adjourned by those present, without notice other than announcement at
the meeting, until a quorum is present.
5.12 RESIGNATION OF DIRECTOR. Upon
an affirmative vote of the Board, a Director may be requested to tender his
resignation. In the event the Director refuses to resign, a majority of the
Board of Directors may call a special meeting of the members of the Association
to vote for or against his removal.
5.13 RESTRICTION OF ELECTION. No two
Directors shall be of the same family and residence.
ARTICLE VI
OFFICERS
6.1 PRESIDENT. The President shall
be the chief executive officer of the Association. He shall preside at all
meetings of both the Association and the Board of Directors. He shall have all
the general powers and duties which are usually vested in the office of
President of an association, including, but not limited to, the power to
appoint committees from among the Owners to assist in the administration of the
affairs of the Association. He shall co-sign all promissory notes and
instruments of conveyance with the Secretary and co-sign all checks with the
Treasurer. The President, or his designated alternate, shall represent the
Association at all meetings of the Association.
6.2 VICE PRESIDENT. In the absence
of the President or in the event of his inability or refusal to act, the Vice
President (or in the event there be more than one Vice President, the Vice
Presidents in order of their election) shall perform the duties of the
President, and when so acting, shall have all the powers of and be subject to
all the restrictions upon the President. Any Vice President shall perform such
other duties as from time to time may be assigned to him by the President or by
the Board of Directors. The Vice President shall be a candidate for the duties
of President at the next election of directors.
6.3 TREASURER. The Treasurer shall
receive and deposit in appropriate bank accounts all money of the Association
and shall disburse such money as directed by resolution of the Board of
Directors; provided, however, that a resolution of the Board of Directors shall
not be necessary for disbursements made in the ordinary course of business
conducted within the limits of a budget adopted by the Board of Directors. The
Treasurer shall also have the authority to: co-sign all checks; keep proper
books of account; cause an annual statement of the Association’s books to be
made at the completion of each fiscal year; prepare an annual budget and a
statement of income and expenditures to be presented to the Membership at the
Association’s annual meeting, and deliver a copy of each to the Members; and
perform all other duties assigned to him by the Board of Directors.
6.4 SECRETARY.
(a) The Secretary shall keep the
minutes of all meetings of the Board of Directors and the minutes of all
meetings of the Association. He shall have charge of such books and papers as
the Board of Directors may direct and shall co-sign all promissory notes and
instruments of conveyance; and he shall, in general, perform all duties
incident to the office of the Secretary.
(b) The Secretary shall keep an
up-to-date and complete list of Members and their last known addresses. Such
list shall be open to inspection by Members and other persons lawfully entitled
to inspect the same.
6.5 DIRECTOR OF LANDSCAPING. The
Director of Landscaping shall regularly inspect all Common Properties of the
Association. He shall advise the Board of Directors of measures to be taken in
order that the Common Properties are well maintained.
6.6 DIRECTOR OF COMMUNICATIONS. The
director of Communications will distribute all written newsletters, etc. to the
members of the Association. He shall compile information necessary to form and
update the Association’s directory to be supplied to the Secretary. He shall
direct the initial amending of the Association’s By-Laws and Covenants and give
counsel to the Board regarding interpretation of these documents.
6.7 DIRECTOR OF SOCIAL ACTIVITIES.
The Director of Social Activities shall plan social events for Members of the
Association so as to perpetuate a positive community spirit.
6.8 DIRECTOR OF SAFETY. The director
of Safety is responsible for organizing and maintaining an effective
Neighborhood Watch program as well as informing the Board of any safety and
environmental hazards that may arise in the community.
6.9 DIRECTOR OF PLANNING &
ZONING. The Director of Planning and Zoning shall regularly attend the City
planning and zoning committee meetings as they pertain to the Association and
its surrounding areas. He will advise the Board of Directors on all zoning
issues that may affect the property values of the land within the Association.
He shall maintain correspondence with all other Planning and Zoning directors
in the area.
ARTICLE VII
INDEMNIFICATION
OF OFFICERS AND DIRECTORS
7.1 INDEMNIFICATION. The Association
shall indemnify every Director or officer, his heirs, executors and
administrators, against all loss, cost and expense, including counsel fees,
reasonable incurred by him in connection with any action, suit or proceeding to
which he may be made a party by reason of his being or having been a Director
or officer of the Association, except in matters of gross negligence or willful
misconduct. In the event of a settlement, indemnification shall be provided
only in connection with such matters in which the Association is advised by
counsel that the person to be indemnified has not been guilty of gross
negligence or willful misconduct in the performance of his duty as such
Director or officer in relation to the matter involved. The foregoing rights
shall not be exclusive of other rights to which such Director or officer may be
entitled. All liability, loss damage, cost and expense incurred or suffered by
the Association in connection with the foregoing indemnification provision
shall be treated and handled by the Association as Common Expenses (as defined
in Paragraph 8.1 hereof); provided, however, nothing contained in this Article
VII shall be deemed to obligate the Association to indemnify any Member or
Owner of a Lot, who is or has been a Director or officer of the Association,
with respect to any duties or obligations assumed or liabilities incurred by
him as a Member or Owner of a Lot covered thereby.
ARTICLE VIII
OBLIGATIONS
OF THE OWNERS
8.1 ASSESSMENTS. All Owners shall be
obligated to pay the assessments imposed by the Association in accordance with
the Declaration (the "Common Expenses"). The assessments shall be
made pro rata based upon the number of Lots owned by each respective owner in
relation to all Lots within the Stone Lake Estates subdivision and shall be due
quarterly in arrears. A Member shall be deemed to be in good standing and
entitled to vote at any annual or special meeting of Members, within the
meaning of these Bylaws, only if he is current in the assessments made or
levied against him and the Lot owned by him.
8.2 ASSOCIATION DUES. Association
dues shall be payable and due January 1st, April 1st, July 1st and October 1st
of each year. The payment will be considered late after thirty (30) days and
the owner will be assessed a late fee of twenty five dollars ($25.00) every
thirty (30) days thereafter.
8.3 USE OF THE COMMON PROPERTIES.
Each Owner may use the Common Properties in accordance with the purposes for
which they were intended.
8.4 GENERAL. Each Owner shall comply
strictly with the provisions of the Declaration.
ARTICLE IX
AMENDMENTS
TO BYLAWS
9.1 AMENDMENTS. These Bylaws may be
amended and/or changed in part as follows:
(a) during
a ten (10) year period commencing on the date hereof, Declarant
may amend or change these Bylaws with the consent of at least sixty percent
(60%) of the outstanding votes of the Members of the Association;
(b) after a ten (10) year period, as
described above, these Bylaws may be amended or changed upon the express
written consent of at least seventy-five percent (75%) of the outstanding votes
of the Members of the Association; or by a resolution passed by the majority of
the Board evidencing the consent of seventy-five percent (75%) of the Owners
and authorizing the President of the Association to execute such amendments.
Any and all amendments, if any,
shall be recorded in the office of the County Clerk of Collin County, Texas.
ARTICLE X
MORTGAGES
10.1 NOTICE
TO ASSOCIATION. An Owner who mortgages his Lot shall notify the Association
through the President of the Association giving the name and address of his
Mortgagee. The Association shall maintain such information in a book entitled
"Mortgagees of Lots".
10.2 NOTICE OF UNPAID ASSESSMENTS.
The Association shall, at the request of a Mortgagee of a Lot, report any
unpaid assessments due from the Owner of such Lot.
ARTICLE XI
NON-PROFIT
ASSOCIATION
11.1 NON-PROFIT PURPOSE. This
Association is not organized for profit. No Lot Owner, Member of the Board of
Directors or person from whom the Association may receive any property or funds
shall receive or shall be lawfully entitled to receive any pecuniary profit
from the operation thereof, and in no event shall any part of the funds or
assets of the Association be paid as a salary or as compensation to, or
distributed to or inure to the benefit of any Member of the Board of Directors;
provided, however, always (1) that reasonable compensation may be paid to any
Member while acting as an agent or employee of the Association for services
rendered in effecting one or more of the purpose of the Association and (2)
that any Member of the Board of Directors may, from time to time, be reimbursed
for his actual and reasonable expenses incurred in connection with the
administration of the affairs of the Association, subject to prior approval by
the Board of Directors.
ARTICLE XII
PRINCIPAL
OFFICE
12.1 ADDRESS. The principal office
of the Association shall be located at Midcrest
Properties, Inc., 400 Chisholm Place, Suite 100, Plano, Texas 75075. (214)
422-7006.
ARTICLE XIII
EXECUTION
OF INSTRUMENTS
13.1 AUTHORIZED AGENTS. The
instruments of conveyance or encumbrance, including promissory notes, shall be
the President with the co-signature of the Secretary of the Association.
ARTICLE XIV
CORPORATE
SEAL
14.1 CORPORATE SEAL. A Corporate
Seal will be held by the Association and be in the care of the Director
currently carrying out the duties of Secretary.
The following Members of Stone Lake
Homeowners Association, Inc., hereby acknowledge that they have read the
foregoing Bylaws for Stone Lake Estates, and that they hereby consent to and
approve of such Declaration in its entirety:
Tiburon Development, Inc.,
S/By R.K. Lambert, President
S/By Clyde Denham,
Secretary/Treasurer
AMENDMENTS TO
BYLAWS
Amendments approved at the December
2, 1998 Annual Meeting of Members of the Stone Lake Estates Homeowners
Association:
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"Times New Roman"'>) Resolved, that Section 4.3 of the Bylaws of Stone Lake Estates
Homeowners Association, Inc., be amended to allow the Board to set the Annual
Meeting for a time between November 1 and December 31 of each year.
2) Resolved,
that Section 4.5 of the Bylaws of Stone Lake Estates Homeowners Association,
Inc., be amended to expand the maximum permitted
notice period for the Annual Meeting from 20 days to 45 days.