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Bylaws of Warren Avenue Four Owners' Association <br />Page 7 <br />Quorum <br />Section 4.04. A majority of the Board shall constitute a quorum and, if a quorum is <br />present, the decision of a majority of the Directors present shall be the act of the Board. <br />Adjournment <br />Section 4.05. A majority of the Directors present, whether or not a quorum is present, <br />may adjourn any meeting to another time and place. If the meeting is adjourned for more than 24 <br />hours, notice of the adjournment shall be given, prior to the time of the adjourned meeting, to the <br />Directors who were not present at the time of the adjournment. <br />Minutes/Action Taken Without a Meeting <br />Section 4.06. Written minutes shall be kept of all meetings of the Board. The minutes <br />shall be distributed to Members within 30 days of the meeting. The Board may take actions <br />without a meeting if all of the Directors consent in writing to the action to be taken. If the Board <br />resolves by unanimous written consent to take action, a written explanation of the action taken <br />shall be distributed to Members within 30 days of the signed consent. <br />ARTICLE V. OFFICERS AND THEIR DUTIES <br />Enumeration of Officers <br />Section 5.01. The Officers of the Association shall be a President, a Secretary, and a <br />Chief Financial Officer. Any number of offices may be held by the same person. <br />Appointment and Term <br />Section 5.02. The Officers of this Association shall be elected annually by the Board. <br />Any vacancies shall be filled by the Board at any time, not necessarily on an annual basis, that it <br />deems proper. Each Officer shall hold his or her office at the pleasure of the Board. <br />Resignation and Removal <br />Section 5.03. The Board may remove any Officer from office either with or without <br />cause. An Officer may resign at any time by giving written notice to the Board, the President, or <br />the Secretary. The resignation shall take effect at the date of receipt of the notice or at any later <br />time specified in the notice. Unless otherwise specified in the notice, acceptance of the <br />resignation by the Board shall not be necessary to make it effective. <br />Compensation <br />Section 5.04. An Officer shall not receive any compensation for any service he or she <br />may render to the Association. <br />