By-Laws of
Geneva Woods Homeowners Association, Inc.

Article I

Name and Location -
The name of the corporation is Geneva Woods Homeowners Association, Inc. hereinafter referred to as the Association.  The principal office of the corporation shall be the residence address of the president, and the mailing address shall be Geneva Woods Homeowners Association, Inc. 200 West 34th Avenue, #672, Anchorage, Alaska 99503.  Meetings of members within the Municipality of Anchorage, as may be designed by the Board of Directors.

Article II

Definitions
Section 1. “Property” shall refer to the land identified as Geneva Woods, according to Plat 67-65, recorded on July 11, 1967, in Book 142, at Page 87, of the records of the Anchorage Recording District, including modifications to lots 28A through 38A, 40 A, 42A, and 43A of Block 2 according to Plats 73-95, 70-62 and 96-147.

Section 2. “Lot” shall mean and refer to any plat of land shown upon the recorded subdivision plats described above and additional plots as Tracts A, B, and C as recorded and conforming to the covenants.

Section 3. “Covenants” refers to the Amended Declaration of Protective Covenants of Geneva Woods Subdivision, recoded July 14, 1997, Book 3091, Page 888 of the records of the Anchorage Recording District and subsequent amendments thereto.

Section 4. “Owner” shall mean and refer to the record owner, whether one or more persons or entities of the fee simple title to any lot which is part of the Properties, including contract sellers, but excluding those having such inter4est merely as security for the performance of an obligation.

Section 5. “Member” shall mean and refer to those owners entitled to membership.

Article III

Membership
Membership shall consist of owners who have paid the annual, voluntary assessment, as assessed by the Board of Directors.  Where more than one person appears as owners of record, they shall be deemed to hold a single membership and dues shall be assessed accordingly.

Article IV

Meeting of Members
Section 1. Annual Meetings.
The annual meeting shall be held during the month of March, April or May of each year, at a time and date specified by the President.

Section 2. Special Meetings. 
Special meetings of the members may be called any time by the President or by the Board of Directors or by not less than ten members.

Section 3. Notice of Meetings.
Written notice must be given to owners for the annual meeting.  The special meetings may be called of the members by any method, so long as a reasonable effort is made to provide notice to all members.

Section 4. Quorum.
The presence at any meeting of 25% of members, either in person or by proxy, shall constitute a quorum.

Section 5. Voting.
Unless otherwise required, a majority vote of a quorum at any duly convened membership meeting shall be binding upon the association.

Section 6. Proxies.
Where more than one person holds a single membership, as owners of record, each shall be deemed to hold a proxy for the other owners of the lot in questions for voting purposes. In all other instances proxies must be in writing.

Articles V

Board of Directors
Section 1.  Number.  The affairs of this Association shall be managed by a Board of not less than nine (9) Directors who must be members of the Association.

Section 2. Election.  Directors shall be elected to the office by the members at the annual membership meeting

Section 3. Term of Office. After election, each Director shall until a successor is elected by the members

Section 4. Replacement. In case of death or resignation of a Director, his successor shall be selected by the remaining members of the Board and shall serve for the unexpired term of his predecessor.

Section 5. Compensation. No Director shall receive compensation for service as a board member.

Section 6. Meetings. The President of Vice President shall call meetings of the Board of Directors as needed.  Special meetings shall be convened by three or more board members, upon at least three days' notice to all board members.  The board shall meet at least once annual, not later than 30 days after the annual membership meeting.

 Article VI.

Officers

Section 1. Designation of Officers. Officers of the Association shall consist of a President, Vice President, Secretary and Treasurer. All officers shall be selected from members of the Board of Directors.

Section 2. Appointment. The officers shall be appointed by the Board of Directors, and shall serve an annual term or until a successor has been appointed.

Section 3. Replacement. In case of death or resignation of an officer, a successor shall be selected by the Board of Directors.

Section 4. Duties. The President shall preside at all meetings of the Board of Directors, and shall designate the time and location for meetings of members and the Board of Directors in accordance with the By-Laws.

The Vice President shall act as the President, in the absence or incapacity of the President.

The Secretary shall keep records of members and the Board of Directors, and shall be responsible for maintaining correspondence of the Association, and shall have custody of and maintain records of the Association.

The Treasurer shall receive dues from members, and from other appropriate sources, and shall cause all funds thus received to be deposited in the bank account designed for the Association.  The Treasurer shall also prepare checks for payments for appropriate expenditures of the Association, as approved by the Board of Directors.  The Treasurer shall maintain financial records, detailing all income and expenditures, and shall make periodic reports to the Board of Directors and the members at their regular meetings, or as otherwise directed by the Board of Directors.

Article VII.

Bank Account

Section 1. Bank Account. A bank account shall be maintained for the Association in an institution designed by the Board of Directors, into which all receipts shall be deposited and from which all expenditures shall be made.

Section 2. Authorized Signatures. All checks issued by or on behalf of the Association shall be drawn upon the bank account designated by the Board of Directors, and shall require the signature of two officers, who shall be designated by the Board of Directors.

Article VII.

Membership Dues

Section 1. Payment of Dues. Each member shall pay dues to the Association as designated herein, on or before the 31st day of January of each year during which a member is to remain in good standing.  Payment shall be made to the mailing address of the Association, or to such other address as the board may from time to time designate in writing.

Section 2. Dues Amount. The annual amount of dues shall be $50.00 for each member, expect as otherwise approved by the Board of Directors.

Article IX.

Amendment

These By-Laws may be amended from time to time by an affirmative vote of not less than 60% of the entire Board of Directors.

 

Acknowledged as approved by the Board of Directors this 18th day of November, 1997.

President - 

Secretary - Roger E. Henderson