Section 1. Regular Meetings.  Regular meetings of the Board of Directors shall be held without notice, at such place and hour as may be fixed from time to time by resolution of the Board.  Should said meeting fall upon a legal holiday, then that meeting shall be held at the same time on the next day which is not a legal holiday.

 

Section 2. Special Meetings.  Special meetings of the Board of Directors shall be held when called by the president of the Association, or by any two (2) directors, after not less than three (3) days’ notice to each director.  The notice may be verbal or in writing.

 

Section 3. Electronic Meetings. Members of the Board of Directors may participate in a meeting of the Board by means of a conference telephone or similar communications equipment by means of which all persons participating in the meeting can hear each other at the same time. Participation by such telephone or communications equipment means shall constitute presence in person at a meeting.

 

Section 4. Quorum.  A majority of the number of directors shall constitute a quorum for the transaction of business.  Every act or decision done or made by a majority of the directors present at a duly held meeting at which a quorum is present shall be regarded as the act of the Board, unless the act of a greater number is required by the Declaration, Articles of Incorporation, or these By-laws.

 

Section 5. Action Taken Without a Meeting. The directors shall have the right to take any action in the absence of a meeting in which they could take at a meeting as long as a quorum of all the directors is participating in the action. Any action so approved shall have the same effect as though taken at a meeting of the directors when a quorum is present.  Any action taken without a meeting shall be documented in the first meeting’s minutes following the action.