ADOPTING OF BY-LAWS
SHAMROCK LAKES ASSOCIATION INC.
A NOT FOR PROFIT CORPORATION
ARTICLE 1
MEMBERSHIP
Only one class of membership shall be recognized. Any person owning or having a contractual interest in any property in the town of Shamrock Lakes Section 1 through 7, and having property large enough to build a home on with respect to Blackford County and the town of Shamrock Lakes restrictions and cods will be considered. With having paid the annual membership dues shall be considered a member in good standing. Joint owners of a single tract shall be deemed to be one member. Any person owning property or contractual interest in the town of Shamrock Lakes Section 1 through 7 cannot be a guest of a member in the Shamrock Lakes Association. Multiple residence under one ownership would pay dues for each residence.
ARTICLE II
ASSESSMENTS
Membership are subject to assessment in such amounts as may be determined by a majority vote at the annual meeting. In addition to the annual assessments, emergency funding may be provided if approved by a majority of the members attending an emergency meeting. Said meeting shall be called not less than 72 hours after notice is given to all members by first class mail.
ARTICLE III
MEETINGS
Annual meetings of the membership will be held in the Shamrock Lakes beach area or at such other locations as the board of directors may direct in the notice of the meeting. Annual meeting to be held in the month of March.
Special meetings may be called by the board of directors on written notice to the members by first class mail no later than 72 hours in advance.
ARTICLE IV
NOTICE
Written notice stating the day, place and hour of each meeting and the purpose of a special meeting shall be delivered personally or mailed to each member entitled to vote not less than 72 hours prior to each meeting. Mailed notices shall be regularly processed through the United States mail and sent to the member at the last known address.
ARTICLE V
BOARD OF DIRECTORS
The board of directors shall consist of five members elected, appointed, or volunteered.
Board of directors will have the right to either restrict or deny membership in the Shamrock Lakes Association.
Any vacancies on the board of directors occurring due to death or resignation may be filled by the remaining members of the board until such time as a replacement is appointed.
The board of directors shall have the authority to elect their own officers and the right to appoint a lakes manager or managers in such number and with such compensation as they see fit.
ARTICLE VI
BUDGET
The board of directors shall present a projected budget for the upcoming year for discussion. The amount of the annual dues shall be approved by the members present at the meeting. The board of directors shall have the authority to distribute such funds on behalf of the organization as they may see fit, provided however, that the board of directors shall not be authorized to incur any debs in the excess of the then current cash on hand without the expressed approval of the members.
ARTICLE VII
QUORUM
The numbers of members constituting a quorum at an annual meeting is the actual number present and no further quorum shall be required. The numbers of directors required to be present to constitute a quorum for the conduct of any business by the board of directors is three.
THESE BY-LAWS ARE HEREBY ADOPTED BY THE MOTION MADE, SECOND AND APPROVED BY THE MEMBERS PRESENT AT THE ANNUAL MEETING ON MARCH 29, 2014.
_________________________ ___________________________
HANNA HORNBAKER PRESIDENT AND JOHN BUFFALO VICE PRESIDENT
MANAGER
BOARD OF DIRECTORS
Town of Shamrock Lakes 