Adelphi Recreation, Incorporated
(As amended and approved at the annual meeting on November 20, 2002)
ARTICLE IV - BOARD OF DIRECTORS
The Board of Directors shall transact all corporate business including:
- Approval of facilities construction and payment thereof,
- Making rules and regulations for the use of corporate property,
- Approval of applications for share ownership,
- Selection of a depository for corporate funds,
- Provision for an annual audit.
- Establishing annual dues and other fees
Nothing in these by-laws shall be construed to permit the Board of Directors to borrow or pledge the credit of the corporation without the specific approval of the shareholders.
The Board of Directors shall meet monthly beginning with February and ending with September of each year and at such other times as they may deem necessary. The President may call a special meeting of the Board of Directors at any time and shall do so on the written request of any other Director.
A Special Meeting of the Board of Directors must be called by the President within 10 days of the receipt of written request, stating the purpose thereof, of at least 15 dues-paying shareholders in good standing
Six voting directors shall constitute a quorum.
The pool manager shall attend Board meetings during the pool open season in a nonvoting role.