EASTWOOD LAKE ESTATES BYLAWS
BYLAWS OF EASTWOOD LAKE HOMEOWNERS ASSOCIATION, INC
ARTICLE I
NAME AND LOCATION
The name of the corporation is EASTWOOD LAKE HOMEOWNERS ASSOCIATION, INC., referred to in these bylaws as the Association. The principle office of the corporation shall be located at Eastwood Lake Homeowners Association, Inc., 9577 N. 177th East Ave., Owasso, Oklahoma 74055. The meetings of the Members and board of directors shall be held at such places within the State of Oklahoma, Rogers County, as may be designated by the Board of Directors.
ARTICLE 11
DEFINITIONS
1. 'Assessment" shall also mean and refer to dues and fees.
2. "Association" shall mean and refer to Eastwood Lake Homeowners Association, Inc., an Oklahoma not for profit Corporation, its successors and assigns.
3. "Certificate" shall mean and refer to the Certificate of Incorporation of the Association filed with the Oklahoma Secretary of State on June 14, 1988.
4. 'Common Area" shall mean all real property owned by the Association for the common use and enjoyment of the Members of the Association.
5. 'Declaration" shall mean and refer to the certificate, certificates of dedication, or restrictive covenants applicable to the Common Areas in the office of the County Clerk of Rogers County, Oklahoma.
6. "Living Unit shall mean and refer to any structure situated on a Lot designated and intended for the use and occupancy as a residence by a single family, and where used shall be deemed to include both Lot and structure.
7. 'Lot shall mean and refer to any separately numbered plot of land shown upon any recorded subdivision plat of the Proper- ties with the exception of the common Areas owned by or dedicated to this corporation.
8. "Members" shall mean and refer to those persons or entities entitled to hold membership in the Association as provided in the Certificate and set forth in these bylaws.
9. "Owner" shall mean and refer to the record owner, whether one or more persons or entities of a fee simple title to any Lot or Living Unit situated upon the property, and which is subject by covenants of record to assessment by the Association, including contract sellers but excluding those having such interest merely as security for the performance of an obligation.
10. "Properties" shall mean and refer to the following described additions located in Rogers County,, State of Oklahoma, according to the recorded Plats thereof, as the same may be amended, to wit:
(a) Eastwood Lake Estates; (b) Eastwood Lake Estates 11; (c) Eastwood Lake Estates 111; (d) Eastwood Lake Estates IV; (e) Eastwood Lake Estates V; and (f) Eastwood Lake Estates VI; each of the above described additions is sometimes hereinafter referred to as an "Area".
ARTICLE III
MEMBERSHIP
Persons who are record owners of a fee or undivided fee interest in any, Lot or Living Unit which is subject by covenants of record to assessments by the Association shall be entitled to the rights of use-and enjoyment of all common areas of the corporation.
Partnerships, corporations or other multiple owners of a fee or undivided fee interest in any Lot or Living Unit subject by covenants of record to assessments by the Association shall be entitled to delegate the rights of use and enjoyment of the Common Areas (in accordance with Article IV, Property Rights) to the Members of one family residing on a lot.
ARTICLE IV
PROPERTY RIGHTS
Each Member shall be entitled to the use and enjoyment of the Common Areas as provided in the Declaration. Any Member may delegate his/her rights of enjoyment of the Common Areas to Members of his/her family, tenants or contract purchasers who reside on the property. The rights and privileges of such delegates are subject to suspension to the same extent as those of the Member. Each Member's rights and easement of enjoyment in and to the Common Areas shall be appurtenant to and shall pass with title to every, Lot or Living Unit subject to the following provisions:
1. The right of the Association to suspend voting rights and the right to use of the Common Areas of any Member for any period during which any assessment/dues against his/her Lot/Living Unit remains unpaid.
2. The right of the Association to limit the number of guests of Members. Guests are to be accompanied by Members when using/on the Common Areas. Members and guests must have a pass provided with membership when fishing on or in the lakes. The Association shall have the right to cause to be removed all others and may prosecute for unlawful trespassing.
3. The right of the Association upon the assent of a majority, of the Members representing a majority, of the lots and living units to dedicate, sell, or transfer all or any part of the Common Areas to any public agency, authority, or utility for such purposes and subject to such conditions as may be agreed to by the members.
4. Personal boat ramps, docks, boat houses, or other structures shall not be constructed on any portion of the Common Areas, except as may be authorized and owned by the Association.
5. Internal combustion engines shall not be used on any boat/ water vehicle using the lakes. Motorized boats are not allowed. Violators may be prosecuted or fined and rights of membership defined herein may be suspended at the discretion of the Association.
6. No motorized vehicles may operate or park on any of the Common Areas. They may park next to the roads adjacent to the Common Areas. Violators may be prosecuted or fined and rights of membership defined herein may be suspended at the discretion of the Association.
7. Boats and other Properties shall not be left unattended on the Common Areas overnight The Association shall have the right to have removed said Properties at the owners expense or sell such property for the expense of removal.
8. No biological entity is to be placed, removed or harmed on the Common Areas without approval of the Board of Directors of the Association.
9. Firearms and explosive devices are prohibited on or in the Common Areas except as approved by the Association.
10. No personal property of any type shall be kept on the Common Areas.
11. No dumping of leaves, grass clippings or other refuse is allowed onto the Common Areas.
12. No fence or other non-dwelling structure may be constructed that obstructs any other residents view of the lakes.
13. No noxious or offensive activity shall be allowed upon the Common Areas nor shall anything be done thereon which will become an annoyance or nuisance to the neighborhood.
14. Any Member not in compliance with the Covenants, conditions and restrictions affecting the Properties, provided under separate instrument, may have all rights suspended by approval of the Board of Directors. All living units constructed prior to June 1, 1988 shall be assumed to be in compliance for the purposes of these bylaws as of that date.
ARTICLE V
MEETINGS AND VOTING PRIVILEGES OF MEMBERS
Annual meetings of Members, commencing with the year 1989, shall be held on the first Saturday in February, if not a legal holiday, and if a legal holiday, then on the next Saturday, at 10:00 AM, at which they shall elect by a plurality vote as described herein a board of directors, and transact such other business approved by majority vote of all members in compliance with Article XL as may be properly brought before the meeting.
Written notice of the annual meeting stating the place, date and hour of such meeting shall be given to each Member entitled to vote thereat not less than ten (10) days nor more than sixty (60) days before the date of the meeting unless otherwise required by law.
Voting by Members may be by either written ballot/survey or during attendance at meetings. One vote is allowed per Lot or Living Unit if in compliance with Article XL A majority vote of all eligible members will be required for passage of any proper agenda item requiring commitment of Association funds not previously approved or involving any liability the Association or its Members might incur unless stated otherwise herein.
Meetings of the Members may be called at any time by the president or by the board of directors of the Association, or by written request of any ten Members of the lots and living units. Notification of each meeting shall be given at the direction of the secretary or person authorized to call the meeting. At all meetings of Members, each Living Unit/Lot may vote in person or by written proxy. Whenever the Certificate or these bylaws require the assent of the Members, the assent shall be obtained at a meeting called for the purpose.
ARTICLE VI
BOARD OF DIRECTORS
The affairs of the Association shall be managed by a board of directors who must be Members of the Association. The number of directors shall be seven (7) or nine (9) in number. The Board of Directors shall consist of the President, Vice President (optional), Secretary/Treasurer (one or two persons optional), and a Director representing each of the Areas.
The normal term of office shall be for two years each with the President and even numbered Area Directors being elected by simple majority of the Members on even numbered years an@ all others on odd numbered years. Any or all Members of the board may be removed from office with or without cause by majority vote of all the Members of the Association representing a majority of the lots and living units. In the event of death, resignation or removal of a director, his/her successor shall be selected by the remaining Members of the board and shall serve the unexpired term of his/her predecessor.
No Director shall receive compensation for any service he/she may render to the corporation; however, any director or Member may be reimbursed for their actual expenses incurred in the performance of duties.
Nominations for directorships shall be made by the Members. The board of directors may appoint a Nominating Committee which shall make as many nominations for election to the board as it shall in its discretion determine.
ARTICLE VII
MEETINGS OF DIRECTORS
Regular meetings of the board of directors shall be held upon such notice, and at such place and hour as may be fixed from time to time by resolution of the board. Special meetings may be called at any time by the President or any board member upon notification to all board Members as to time and place of the meeting.
A majority of the 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.
The directors shall have the right to take any action permitted by the bylaws, Certificate or Declaration, in the absence of a meeting, by obtaining the written approval of all of the directors. Any action so approved shall have the same effect as though taken at a meeting of the directors.
ARTICLE VIII
POWERS AND DUTIES OF THE BOARD OF DIRECTORS AND OFFICERS
The board of directors shall have power to:
1. Adopt and publish rules and regulations governing the use of the Common Areas and the personal conduct of the Members and their guests therein, and to establish penalties for the infraction thereof;
2. Exercise for the Association all powers, duties and authority vested in or delegated to this Association and not reserved to the membership by other provisions of these Bylaws, the Certificate, or the Declaration;
3. Employ independent contractors, and such other employees as they deem necessary, and to prescribe their duties and compensation.
It shall be the duty of the board of directors to:
1. Cause to be kept complete record of all its acts and corporate affairs.
2. Supervise all officers, agents and employees of this Association, and to see that their duties are properly performed;
3. Procure and maintain adequate liability and hazard insurance on property owned by the Association;
4. Cause the Common Areas to be maintained in accordance with the annual critique/survey.
5. Conduct an annual critique/survey to determine the desires of the Members.
6. Insure that no Association funds are expended without the assent of a majority of those eligible to vote.
7. Insure that no increased liability of Members is generated by any Association act unless approved by a majority of Members eligible to vote.
8. Insure that no Lot/Living Unit is encumbered by any Association act without assent of a majority of the Members eligible to vote.
The duties of the officers are as follows:
The President shall preside at all meetings of the board of directors; shall see that orders and resolutions of the board are carried out; and shall sign all leases, mortgages, deeds and other written instruments. May also sign checks in the absence of the Treasurer.
The Vice President if one is elected, shall act in the place of the president in the event of his/her absence, inability or refusal to act and shall exercise and discharge such other duties as may be required of him/her by the board.
The Secretary shall record the votes and keep the minutes of all meetings and proceedings of the board and of the Members; serve notice of meetings of the board and of the Members; keep appropriate current records showing the name and address of the Members of the Association, and shall perform such other duties as required by the board.
The Treasurer shall receive and deposit in appropriate bank accounts all monies of the Association and shall disburse such funds as directed by resolution of the board of directors; shall sign checks and promissory notes of the Association keep proper books of account.
Area Directors shall be Members of the board and shall represent the Members of each of their respective Areas for association business and shall perform other duties as required by the board.
ARTICLE IX
COMMITTEES
The Board of Directors may form and/or dissolve such committees as is necessary to perform the tasks of the Association. The Chairperson of each committee will be appointed by a majority of the Board of Directors and may be changed when deemed appropriate. The duties and powers of the committees will be delegated by the Board.
ARTICLE X
BOOKS AND RECORDS
The books, records and papers of the corporation shall at all times, during reasonable hours, be subject to inspection by any Member.
ARTICLE XI
DUES AND ASSESSMENTS
By the Declaration or Area covenants, each Member is deemed to covenant and agree to pay to the Association: (1) annual assessments, dues, or charges, and (2) special assessments for capital improvements by majority vote of Members only. Dues will remain at the current rate, of $100.00 per year for each Living Unit, and $30.00 per year for each Lot without a Living Unit thereon, unless changed by a majority vote of all Members. Each assessment shall be the personal obligation of the Member who was the owner of such property at the time when the assessment fell due. Failure to pay such dues and assessments by the due date shall result in suspension of use of all Common Areas and privileges of the Association. An initiation fee of one years dues plus current fees due will be levied for reinstatement. Waiver of dues and assessments may be granted in special cases of hardship or for the benefit of the Association as approved by the Board of Directors.
The assessments levied by the Association shall be used exclusively for the purpose of promoting the recreation, health, safety, and welfare of the residents in the Properties and in particular for the improvement and maintenance of the Common Areas and services devoted to this purpose and related to the use and enjoyment of the Common Areas, and of the homes situated upon the Properties.
The annual assessment period shall be January 1st through December 31st each year. Dues shall be due by February 15th each year.
ARTICLE XII
ALLOCATION OF INCOME AND EXPENSES
The corporation shall apply all its revenue from whatever sources derived to the payment of its operating expenses and to other necessary items of disbursement as appropriate. In addition, the corporation may establish reasonable cash reserves for anticipated future disbursements for maintenance and operating expenses. The corporation shall not incur debt nor deficit without a vote by a two-thirds majority of Members.
No part of the income of the Association shall inure to the benefit of any Member, director, officer of the Association, or any, private individual (except that reasonable compensation may be paid for services rendered to or for the Association affecting one or more of its purposes), and no Member, officer of the Association or any private individual shall be entitled to share in the distribution of any of the Association assets on dissolution of the Association.
ARTICLE XIII
DISTRIBUTION ON DISSOLUTION OR LIQUIDATION
In the event of the liquidation or dissolution of the association, whether voluntary or involuntary, no Member shall be entitled to any distribution or division of its remaining property or its proceeds, and the balance of all money and other property received by the association from any source, after the payment of all debts and obligations of the Association, shall be used or distributed exclusively to an exempt purpose within those set forth in the Internal Revenue Code, and the Regulations there under as the day of same now exist or as they may be hereafter amended from time to time.
ARTICLE XIV
AMENDMENTS
The bylaws may be amended, repealed or new bylaws may be adopted by a vote of the majority of the Members.
ARTICLE XV FISCAL YEAR
The fiscal year of the corporation shall be the calendar year, or such other fiscal year as the directors may fix and determine.
Adopted this 30th day of July1988
John M. Cline, Director Charles F. Garcia, Director Warren Michaels, Director
James Williams, Director Jane Griswold, Director Robert Green, Director
Karen Zink, Director Dean Foster, Developer