DIRECTORS, OFFICERS, AND TERMS OF OFFICE

Statement of Policy

It shall be the policy of this Homeowners Association that Diretors and Officers shall be selected and serve in accordance with the Articles of Incorporation and Bylaws of Fairway Springs Homeowners Association, Inc.
Original Directors and Officers, three (3) in number, are designated by the Developer. These Directors and Officers are to serve until their resignation, or the developer relinquishes control to the resident members of Fairway Springs Homeowners Association, and the successors to these Directors and Officers are elected and have qualified as set forth in the Articles of Incorporation and Bylaws of Fairway Springs Homeowners Association, Inc.

Implementation

3/14/84
Number of Directors is increased to five (5).

7/1/85
The Developer having relinquished control of the Association, the number of Directors is increased to nine (9), and they are elected for terms of office: to wit, three for a one-year term; three for a two-year term; and three for a three-year term. None of these Directors shall be eligible to serve for more than two consecutive three-year terms.

The principle Officers of the Association shall be president, vice-president, secretary, and treasurer. They shall be elected by the by the Board of Directors, who may also may appoint an assistant secretary and an assistant treasurer. Officers shall serve a one-year term of office with the privilege of re-election.

5/30/06
the Security Officer title will be eliminated. Key Card administrator established.

1/30/07
In the event of an interim (between annual elections) vacancy, the Board of Directors shall appoint, approve, and vote on an eligible member to serve on the Board until the next election date. Appointees are given voting privileges during their interim appointment. No appointee may serve beyond the next election date unless duly appointed by the members.

Term Limits: There shall be nine (9) Directors elected. Directors elected shall not serve for more than two (2) consecutive three (3) year elected terms.

06/11/09
Correction to policy statement from 1/30/07.

In agreement with the Florida Statutes, Section 617.0809, which governs all not-for-profit corporations, and addresses what an HOA should do in the event of a vacancy on the board, interim to elections, our policy shall now be:    
 
In the event of an interim vacancy on the Board of Directors (when vacancy occurs between annual elections, OR after the Election Process has begun, but prior to the end of the resignee’s 3-year term), the Board of Directors shall appoint, approve, and vote on an eligible member to serve on the Board for the remainder of the resignee’s term.  The appointed Board Member shall NOT be on the ballot for the next election unless the term of the vacant seat would have expired at that time.
 
An appointee is not required to serve in the same functional capacity as the resigning director. The Board may re-assign positions to best match directors with required functions.
 
At the end of a Board Member’s  “appointed term”, they may be placed onto an election ballot for a second 3-year term on the Board of Directors.  The completion of the appointed term counts as one 3-year term for that appointee.
 
Current officers and directors serving on the Board of Directors, as of this date, will be grandfathered in to serve according to prior policy.  

Corrections will be made as new members come onto the board so that, eventually, there will be 3 board members with 3 years remaining on their term, 3 board members with 2 years remaining, and 3 board members with 1 year remaining.  There should always be exactly 3 positions open for each election period, with all other vacancies filled as described above.