oi un i F = VOL 124: 3 24796 boc BY-LAWS OF LAKEWOOD OWNERS ASSOCIATION INC ARTICLE | ADMINISTRATION Section 1- Purpose of By-laws. These By-laws provide the members of the association the guidelines to establish the management body of the Association to administer, manage and cooperatively enforce established restrictions, covenants, conditions, and reservations, and promulgate and supervise enforcement of rules and regulations governing the use of community common areas provided for recreation and the use of property owners and residents. The By-laws allow the members of the association to preserve the integrity of individual and community property by amicable interaction with our neighbors.
Section 2- Definitions. The terms used in these By-laws shall have the same meaning as set forth in the Association’s Amended and Restated Restrictions, Covenants, Conditions, and Reservations.
Section 3- Corporate Seal. The Association shall have a seal in circular form having withing its circumference the words: Lakewood Owners Association.
Section 4- Fiscal Year and Accounting Basis. The fiscal year of the Association shall begin on the first day of January and end on the 31° day of December of every year. The Association shall record all financial transactions within the fiscal year on an Accrual basis to conform with the non-profit organizational accounting guidelines.
Section 5- Books and Records. The administrative, financial and architectural records and papers of the Association shall be open to inspection by any member during reasonable working hours established by the board. The Declaration and By-laws of the Association shall be available for inspection by any member during reasonable working hours and copies may be purchased at a reasonable cost. A copy of the
he board. The Declaration and By-laws of the Association shall be available for inspection by any member during reasonable working hours and copies may be purchased at a reasonable cost. A copy of the governing documents shall be provided to all members upon purchase of their plot of land and included property.
Section 6- Transfer of Sale of Property. All plots of land described in the legal description as established within the subdivision, shall be subject to a resale certificate package that provides the potential buyer with any information concerning current violations, hazards or other necessary information to allow for an informed purchase. The board may charge an acceptable fee for the preparation of said documents and provide the completed package to the title company within the timeline established by the Texas Property Code. Any outstanding, by not limited to the following, assessments, fines or liens owed or due for reconciliation by the current property owner must bring current at time of closing.
Section 7- Conflict or Differences. In the case of any conflict, the (1) provisions of Texas state law, (2) the Association’s Declaration, (3) Articles of Incorporation, and (4) these Bylaws shall prevail in that order.
ARTICLE II MEETING OF MEMBERS Section 1- Annual Meeting of the Members. The annual general meeting of the membership is to be held on the first Saturday of October of each calendar year or at the discretion of the Board of Directors.
Page 1 1245 47943 VOL ci Lilt boc Section 2- Notice of Meetings. Notice shall be given of all meetings by any methods available, including but not limited to, posting on the designated bulletin boards, by email or other electronic modality, or by mail
of Meetings. Notice shall be given of all meetings by any methods available, including but not limited to, posting on the designated bulletin boards, by email or other electronic modality, or by mail to the last known mailing address of all members. Notice shall be provided no later than 10 days from the day of the meeting but no earlier than the 60" day before the meeting and include a brief description of meeting contents. The agenda shall be posted within 72 hours of the meeting.
Section 3- Quorum. The presence at the meeting of members entitled to cast twenty percent of the votes of the membership shall constitute a quorum for any action except as otherwise provided in the Declaration or these By-laws.
Section 4- Proxies. Members may cast their vote in person, electronically or by proxy on all matters up for vote of the Association. All proxies must be in writing and submitted to the Business Manager or Secretary for recording. Proxies are revocable and automatically made invalid upon the member voting in person.
Section 5- Special Meetings of the Members. A special meeting of the membership may be called at any time by the Board of Directors, or upon written request of the members who are entitled to ten percent of all the votes of membership.
ARTICLE Ill MANAGEMENT OF THE ASSOCIATION Section 1- Board of Directors. The Association shall be managed by a board of no less than five (5) and no more than 9, consisting of a president, vice president, secretary, treasurer, and general board member, who shall at all times be members of the Association. The term “Board of Directors” are also referred to in this document as “Board Members” interchangeably.
Section 2- Election. The election of the Board Members shall take place at the annual meeting of the
term “Board of Directors” are also referred to in this document as “Board Members” interchangeably.
Section 2- Election. The election of the Board Members shall take place at the annual meeting of the members, the first Saturday of October of each year. The existing board shall discuss the positions available on the board with the elected members and establish positions based off consensus of all Board Members.
Section 3- Term. The Board Members of the Association shall hold office for a three-year term and may serve consecutive terms on the board to ensure the consistent management of the Association so long as they are re-elected by the majority vote of those present at the annual meeting. Board Members may not hold the same position in office for more than two consecutive terms. Absence from three consecutive board meetings without just cause and notice to the Board shall be treated as a resignation.
Section 4- Vacancies. A vacancy in any Board Member position shall be filled by selection and appointment of a new officer from the remaining Board Members until such time as to appoint a member of the Association, by a majority vote of the existing Board Members, as a Board of Director to serve until the next annual meeting. At the annual meeting the appointed Board Member may be officially elected by the membership by majority vote of those present.
Section 5- Multiple Offices. A Board Member may assume the role of a vacant position on the board in cases when not enough members have volunteered to fill every position but it is up to the board to find a replacement within a timely manner. Board Members may serve on active committees in conjunction with their board position.
s have volunteered to fill every position but it is up to the board to find a replacement within a timely manner. Board Members may serve on active committees in conjunction with their board position.
Section 6- Removal. Any Board Member may be removed from their elected position at any time with or without cause by the majority vote of the existing board. Any officer may resign at any time by giving written notice to the board or the business office of the Association. Such resignation shall take effect on the date of receipt of such notice or any later time specified therein, and unless otherwise specified Page 2 240 FG 5 1245 VOL ON? 47943 BOC therein, the acceptance of such resignation shall not be necessary to make it effective. In the event of death, the board shall seek a replacement for the remainder of the term under Section 4 of this article.
Section 7- Compensation. No director or member of the board shall receive compensation for any service they may render to the Association in conjunction with their position on the Board of Directors. Directors may be compensated for services rendered outside their normal scope of duties as a member of the board and be reimbursed for actual expenses occurred in the performance of their duties with approval of the board.
ARTICLE IV POWERS AND DUTIES OF DIRECTORS Section 1- Powers. The Board of Directors shall have the power to: a.
Adopt and publish rules and regulations governing the use of the common area(s) as stated below as well as establish penalties for infractions of such rules and regulations.
Hold hearings as required by Chapter 209 of the Texas Property Code, which codified the Texas Residential Property Owners Protection Act of 2001, and provides for procedural due process before legal action or
rings as required by Chapter 209 of the Texas Property Code, which codified the Texas Residential Property Owners Protection Act of 2001, and provides for procedural due process before legal action or suspension of member(s) rights for violations of the Declaration.
Exercise all powers, duties and authority vested in the association by the Declaration and Bylaws and Articles of Incorporation.
Declare the office of a member of the Board of Directors to be vacant in the event such member shall be absent from three consecutive regular board meetings as stated in Article Ill Section 4.
Employ individuals, management company, collection agency, bookkeeper, attorney or anyone else as deemed necessary acting as the Business Manager or other position established by the board, and prescribe and supervise their duties, either directly or though the Association Board Members.
Authorize and request the Business Manager to perform duties that support the Board of Directors, the Association and its members including duties as described within Section 2 of this Article or act on behalf of the Association so long as the Board Members agree by majority vote. This request does not relieve the Board of Directors with their fiduciary duties prescribed by the State of Texas.
Establish necessary financial accounts as deemed appropriate by the Board of Directors and have a minimum of two members of the board as signers on the accounts. The board reserves the right to assign the Business Manager or other appropriate agent as a signer on the account as voted on and approved by the majority vote of the board.
Take action without a meeting, with the agreement of at least four Board Members and documented in
ropriate agent as a signer on the account as voted on and approved by the majority vote of the board.
Take action without a meeting, with the agreement of at least four Board Members and documented in writing as action taken on behalf of the Association, in order to meet an emergency obligation of the Association. Any action taken shall have the same effect as though taken at the meeting of directors and shall be discussed at the first subsequent meeting after the event.
Section 2- Duties. It shall be the duty of the Board of Directors to: a.
Keep a complete record of all its acts and affairs and to present a statement thereof to the members at the annual meeting, or at any special meeting when such statement is requested in writing by 10% of the members who are entitled to vote.
Supervise all contractors, business manager, agents and employees of the Association, and ensure their duties are properly performed.
Page 3 541 FG VOL 12745 IZ479645 til BoC Perform their fiduciary responsibility to protect, preserve and enforce the By-laws and Declarations of the Association.
As required by the Declaration, the board shall establish the annual assessment against each lot, provide written notice to the membership of its due date, and bring legal action, lien or foreclosure against any property for which the assessments are delinquent in their obligations.
Perform their fiduciary responsibility to ensure the assessments received by all property owners, be used for the benefit of all homeowners, to properly maintain the common areas and to ensure that all financial transactions have been discussed, voted on and approved by the majority of the board. The President and the Treasurer shall review and approve the funding of all board voted financial transactions either by
ctions have been discussed, voted on and approved by the majority of the board. The President and the Treasurer shall review and approve the funding of all board voted financial transactions either by written authorization for the Business Manager to execute or by physical signature on the check presented for payment.
Procure and maintain adequate liability and hazard insurance on common areas owned or under jurisdictional control of the Association.
Require all contractors, employees or other agents having responsibilities to provide services to the association to be bonded and or insured as deemed appropriate by the board.
Ensure the common areas are maintained in a safe, visually appealing and sanitary condition and limit their use to members and authorized or approved users as established with the board or management office.
Section 3- Positions. The Board of Directors consists of the core positions and their responsibilities are outlined as follows. The Board of Directors reserves the right to delegate or assign their tasks to the Business Manager or other appropriate agents contracted or employed by the Association under the supervision and direction of the board in order to ensure fiduciary duties of the Association are carried Out.
President- The President shall preside at all meetings of the Board of Directors, ensure that orders and resolutions of the board are carried out, sign all leases, mortgages, deeds and other written instruments or promissory notes and acts as a co- signer on all financial accounts.
Vice President- The Vice President shall act in the place and stead of the President in the event of their absence, inability or refusal to act and shall exercise and discharge such other duties as required by the board.
Vice President shall act in the place and stead of the President in the event of their absence, inability or refusal to act and shall exercise and discharge such other duties as required by the board.
Secretary- The Secretary shall keep the minutes of all meetings and proceedings of the board and the members and ensure timely availability to the membership; and assist with the compilation or count of votes required of the membership. When a Business Manager is not utilized, the Secretary shall serve notice of board and member meetings, maintain an active database or roster of members and their contact information and perform other duties as required by the board.
Treasurer- The Treasurer shall oversee the Business Manager who will maintain adequate financial records of the Association, ensure proper handling of all monies received or disbursed through the Association and act as the Association’s internal control of all financial records. The Treasurer shall act as a co-signer on all financial accounts, authorize and sign checks or promissory notes of the Association, ensure all financial duties of the Business Manager are completed in accordance with the direction received by majority vote of the board, prepare an annual budget and present a statement of all financial transactions to the members at the annual meeting and monthly board meeting.
General Board Member- The General Board Member shall assist the Association with any tasks deemed necessary by the board including, but not limited to, overseeing the maintenance contractors, assist with ascertaining of bids for services required to maintain the common areas or provide other services as deemed necessary by the remaining board members or Association.
Page 4 47963 oo ARTICLE V NOMINATION AND ELECTION OF DIRECTORS
rvices required to maintain the common areas or provide other services as deemed necessary by the remaining board members or Association.
Page 4 47963 oo ARTICLE V NOMINATION AND ELECTION OF DIRECTORS Nomination. Members of the Association may nominate themselves for a position on the Board Section 1of Directors after a call to the membership is made in preparation of the annual meeting or while present at the annual meeting. Nomination of members, other than themselves, may be made from the floor at the annual meeting as long as the member nominated is willing to serve in the capacity up for election.
The Board of Directors may establish a nomination committee which may consist of members of the Association, the business manager or other contracted individuals working on behalf of the Association or business manager, in order to run the successful election of Board Members. The nominating committee shall make as many nominations for election to the board as it shall in their discretion determine, but not less than the number of vacancies to be filled. Nominations shall be solicited and made from among the members of the Association.
Election. Election to the Board of Directors shall be by secret written ballot and may be cast in Section 2person at the annual meeting, electronically, or by proxy. Each property owner shall have one vote per lot pac owned. Married couples or jointly owned properties may submit only one vote representing the ownership of the lot. The nominees receiving the largest number of votes shall be elected. Voting by acclamation is permitted if there are more positions available then nominees.
ARTICLE VI MEETING OF THE BOARD OF DIRECTORS Regular Meetings. A regular meeting of the board shall be held each month at a time and place Section 1-
there are more positions available then nominees.
ARTICLE VI MEETING OF THE BOARD OF DIRECTORS Regular Meetings. A regular meeting of the board shall be held each month at a time and place Section 1determined by the Board Members.
Quorum. The majority of the members of the entire board shall constitute a quorum.
Section 2Section 3- Special Meetings. Special meetings may be called by the President or by written request of fiftyone percent of the Board of Directors. The purpose of the meeting shall be provided to all members at the time of the request.
ARTICLE VII COMMITTEES Section 1- The Board Members shall establish committees as deemed necessary for the Association from time to time. The committee shall not serve as official board members, so long as the state disallows, and can be appointed by the board at any time.
Section 2- The Board may form ad hoc committees, such as swimming pool committee, Architectural Review Committees and establish a chairperson for each committee without a formal vote of the membership.
Section 3- Architectural Review Committee- The Architectural Review Committee shall consist of a chairperson and at minimum two committee members to ensure the powers and duties implied in the Declarations are fulfilled. The committee shall review all modification requests of the membership, determine their compliance with the Declarations and approve or deny the requests as necessary. The Chairperson works closely with the Business Manager to ensure proper records of all property owner modifications, blueprints or other related records are maintained and available for review by the board or member of the Association.
ARTICLE VIII AMENDMENTS Section 1- These By-Laws may be amended by the Board Members in consultation with the membership.
Page 5 i ne
nd available for review by the board or member of the Association.
ARTICLE VIII AMENDMENTS Section 1- These By-Laws may be amended by the Board Members in consultation with the membership.
Page 5 i ne ir — ¢ in? 4 BoC Section 2- Any conflict between the Declarations and these By-Laws shall be resolved in favor of the Declaration. State law will always supersede the Association’s legal documents provided there is no allowance by the state laws to act otherwise. For example, if state law allows the By-Laws and Declarations to dictate a specific topic, then the directive will be followed according to those rules established in said documents.
ARTICLE IX MISCELLANEOUS Section 1- All previous By-Laws pertaining to the Lakewood Owners Association are hereby amended with only these By-laws valid in their entirety.
|, Jeannette Garcia, President of the Board and Darlene Logan, Secretary of the Board, affirm, that the above By-Laws have been voted on by the board and approved for adoption as of this Zn day of » 2021.
A Jeannette Garcia, President The State of Texas Darlene Logan, Secretary County of Bandera Garcia and Darlene Logan, known to me to be the person whose name is subscribed to the foregoing instrument and acknowledged to me that they executed the same for the purposes and consideration therein expressed.
Given under my hand and seal of office this 2nd day of Oct he v , 2021.
& waved, CASEY L. BRAKEBILL ee Notary Public, State of Texas SS FN ge Comm. Expires 02-27-2024 “mei Notary ID 132378489 Notary Public, State of Texas Page 6 nn247946h3 VOL 1245 FG Filed for Record in: Bandera County Ont Oct 15,2021 at i0'56A As a Recording Document Number ® 00247943 Amount 46.100) Receipt Number - 159858 Buy
Public, State of Texas Page 6 nn247946h3 VOL 1245 FG Filed for Record in: Bandera County Ont Oct 15,2021 at i0'56A As a Recording Document Number ® 00247943 Amount 46.100) Receipt Number - 159858 Buy Amy Keenan Any provision herein which restricts the sale: rental or use of the described reg] property because of color or race is invalid and unenforceable under Federal Low.
STATE OF TEXAS COUNTY OF BANDERA I heraby cartify that this inskrumant was filed on the date and time stamped hereon by me and was duly recorded in the volume and and page of the official records of: Bandera County as stamped hereon by me.
Oct 15,2021 Tandie Mansfieldy County Clerk Bandera County Hand Delivered To: 4 Cc gin a’ Vaile 4 4