Membership-

Section 1. Membership of the Bloomfield Estates Improvement Association, Inc. is limited to owners of lots located in Bloomfield Estates Subdivision, Oakland County, Michigan.

Section 2. The membership shall consist of two classes: Home Owners and Vacant Owners.

Section 3. Home Owners memberships shall be limited to owners of lots which are improved with a residence. Vacant Owners memberships shall be limited to owners of lots which are vacant, namely not improved with a residence. Where a lot, whether improved or vacant, is held under land contract, the land contract vendee shall be deemed to be the person entitled to membership.

Section 4. An owner of more than one lot shall be entitled to hold but a single membership.

Where one of the lots so owned is improved with a residence, the membership shall be a Home

Owners membership, and where all of the lots so owned are vacant lots, the membership shall be a

Vacant Owners membership.

 

 

Dues-Section 1. The annual dues shall be in such amount as shall be determined from time to time

by the Board of Directors, but (subject to amendment of the By-laws) shall not exceed seventy-five dollars ($ 75.00) [CHANGE TO $100]* for a Home Owner member and thirty-five dollars ($ 35.00) [CHANGE TO $50]* for a Vacant Owner member    

Section 2. Statements of dues shall be mailed on or before February 1st of each year by the Treasurer to each property owner at his last known address.

Section 3. Dues shall be payable March 1st of each year. Any property owner whose dues have not been paid by the date of the annual meeting or any special meeting shall be ineligible to vote at such meeting or any subsequent meeting until such dues have been paid.

 

 

Meetings of the Association-

Section 1. The annual meeting shall be held the second Monday in April of each year at 8:00 P.M~ at a location considered by the Board of Directors to be the most convenient to the majority of the members.

Section 2. Special meetings of the Association may be called by majority vote of the Board of Directors voting at a properly constituted meeting, or on written petition signed by members in good standing whose total number of votes shall be equivalent to eight full votes. The secretary shall mail a notice of said meeting to each member at the members last known address one week in advance of the meeting and in such notice shall state the time, place, and purpose of the meeting.

Section 3. A quorum for the transaction of business at the annual meeting or any special meeting of the Association shall be deemed to be present when there is a sufficient number of members in attendance, whose dues are paid, to cast a total number of votes equivalent to twelve full votes.

 

                                                                                Election of the Members of the Board of Directors

Section 1. The Board of Directors shall consist of six members to be chosen from among the members of the Association in good standing.

Section 2. At each annual meeting of the Association two members of the Board of Directors shall be elected to hold office for a term of three years to succeed the members whose term of office shall then expire.

Section 3. Vacancies occurring in the Board of Directors between annual meetings shall be filled by the Board, the director ~ elected to serve until the next annual meeting, at which annual meeting a director to serve for the balance of the unexpired term shall be elected by the membership.

The Board of Directors shall have the power to designate the officers or agents to execute instruments however, in the absence of specific designation, the president or vice-president and secretary or treasurer shall execute instruments on behalf of the Association.

 

Deposit of Association Funds-

The funds of the Association shall be deposited in a financial institution approved by the Board of Directors. No withdrawal of such funds shall be made except when signed by any two of the four officers.

 

By-law Amendment-

The By-laws of the Association may be amended by a majority vote of those present at a duly constituted meeting of the members, provided notice of the proposed amendment or amendments has been given in the call for the meeting.