24.Vacancies. –
Vacancies in the Board caused by any reason other than the removal of a manager by a vote of the Association shall be filled by vote of the majority of the remaining managers, even though they may constitute less than a quorum; and each person so elected shall be a manager until a successor is elected at the next annual meeting of the Association.
25.Removal of managers. –
At any regular or special meeting duly called any one or more of the managers may be removed with or without cause by a majority of the apartment owners and a successor may then and there be elected to fill the vacancy thus created. Any manager whose removal has been proposed by the owners shall be given an opportunity to be heard at the meeting.
26. Organization meeting . –
The first meeting of newly elected Board shall be held within ten days of election at such place as shall be fixed by the managers at the meeting at which such managers were elected and no notice shall be necessary to the newly elected managers in order legally to constitute such meeting, provided a majority of the whole Board shall be present.
27.Regular meeting. –
Regular meeting of the Board may be held at such time and place as shall be determined from time to time by a majority of managers but at least two such meetings shall be held during each year. Notice of regular meetings of the Board shall be given to each manager, personally or by mail or telegraph, at least three days prior to the day named for such meetings.
28.Special meetings. –
Special meetings of the Board may be called by the President on three days notice to each Manager given personally or by mail, or telegraph which notice shall state the time, place (as herein above provided) and purpose of the meeting. Special meetings of the Board shall be called by the President or Secretary in like manner and on like notice on the written request of at least three Managers.
29.Waiver of notice. –
Before or at any meeting of the Board any manager, may, in writing waive notice of such meetings and such waiver shall be deemed equivalent to the giving of such notice. Attendance by a Manager at any meeting of Board shall be a waiver of notice by him of the time and place thereof. If all the Managers are present at any meeting of the Board, no notice shall be required and any business may be transacted at such meeting.
30.Quorum. –
All meeting of the Board, one-third of the total length of the managers shall constitute a quorum for the transaction of business and the acts of the managers present at a meeting at which a quorum is present shall be the acts of the Board. If at any meeting of the Board, there be less than a quorum present, the majority of those present may adjourn the meeting from time to time. At any such adjourned meeting , any business which might have been transacted at the meeting as originally called may be transacted without further notice, provided there is a quorum present.
31.Fidelity Bonds.-
The Board may require that all officers and employees of the Association handling or responsible for Association funds shall furnish adequate fidelity bonds. The premiums on such bonds shall be paid by the Association.
CHAPTER V
OFFICERS
32.Designation. –
The principal officers of the Association shall be a President, a Vice-president, a Secretary and a Treasurer, all of whom shall be elected by and from the Board of Managers. The Board may appoint an Assistant Treasurer, and a Assistant Secretary and such other officers as in their judgment may be necessary ( in the case of an Association of one hundred owners or less the offices of treasurer and Secretary may be filled by the same person).
33.Election of officers. –
The officers of the Association shall be elected annually by the Board of Managers at the organization meeting of each new Board and shall hold office at the pleasure of the Board.
34.Removal of officers. –
Upon an affirmative vote of a majority of the members of the Board any officer may be removed, either with or without cause and his successor elected at any regular meeting of the Board or at any special meeting of the Board called for such purpose.