DECLARATION
2. Definitions. The terms used in this Declaration and in the Bylaws shall have the following meanings:
(m) “Owner” or “Unit Owner” means any natural person, firm, corporation, partnership, association, trust or other entity capable of holding title to real property, or any combination thereof, which owns fee simple title to a Condominium Unit.
(q) “Unit” means a unit as defined by the Condominium Act, and consists of any one of those parts of the Building or Property which is separately described on the Plat or the Building Plans, or in paragraph 6 of this Declaration (or any amendment to any of the foregoing). The term “Unit” includes both “Residential” and “Parking” Units as described in paragraph 6 of this Declaration. |
BYLAWS OF POTOWMAC OVERLOOK CONDOMINIUM
ARTICLE II - Unit Owners' Association
Section 8. Title to Units. Title to Condominium Units may be taken in the name of a natural person or in the names of two or more natural persons, or in the name of a corporation, partnership, association, trust, or other entity capable of holding title to real property, or any combination thereof.
Section 9. Voting.
(c) No Unit Owner may vote at any meeting of the Unit Owners' Association or be elected to or serve on the Board of Directors if the Unit Owners' association has perfected lien against his or her Unit and the amount necessary to release such lien has not been paid at the time of such meeting or election.
ARTICLE III - Board of Directors
Section 1. Number and Qualifications. The affairs of the Condominium shall be governed by an Executive organ to be known as the Board of Directors. The Board of Directors shall be com- posed of five (5) persons. All Directors shall be Unit Owners or spouses, officers, partners, agents or employees of Unit Owners. At the Annual Meeting held in 1983, three (3) of the persons elected as Directors receiving the highest votes shall be elected for a two-year term and the remaining two persons so elected shall be elected for a one-year term. At the expiration of the initial term thereafter, each successor shall be elected to serve a term of two years. Members of the Board of Directors shall hold office until their respective successors shall have been elected and qualified.
Section 4. Removal or Resignation of Members of the Board of Directors. A member of the Board of Directors may resign at any time and any Director who is a Unit Owner shall be deemed to have resigned upon divestiture of title to his or her Unit in fee or by lease for a term or terms of six (6) months or more unless such Director acquires or con-tracts to acquire another Unit under terms giving such Director a right of occupancy effective as of or before the termination of the right of occupancy pursuant to such other disposition(s).
|
