BY-LAWS OF THE CRESS CREEK HOMEOWNERS ASSOCIATION, INC
1. Name and Purposes: The name is Cress Creek Homeowners Association, Inc., a not-for-profit corporation of Illinois (Association). The four purposes of the Association are to keep about 575 families organized and informed for their mutual benefit, to encourage high standards of use and maintenance of all property in its area, to maintain a current directory of its members, and to serve as a uniting group for social activities and civic concerns.
2. Members and Voting: The members shall be all: residents living in the homes having street addresses in the Association directory and current in their dues. Each home address, current in dues, shall have one vote at the biennial meeting for the election of the Board of Directors (Board).
3. Directors and Officers: Directors shall be elected for a two year term at the biennial election meeting every odd numbered year. Officers shall be those directors who are elected for a two year term by the Board at their next meeting. Officers shall consist of the following: president, vice-president, secretary and treasurer. Officers shall preside at any meeting in the order aforesaid. The two year term shall start on January 1st following the biennial meeting above.
a) The affairs of the Association shall be managed by a Board of 7 Directors. A vacancy of an officer or director may be filled by a majority vote of a quorum of the directors attending any meeting of the Board.
b) Directors shall be given specific responsibilities to spread the work in managing the affairs of the Association. The president shall make assignments with the advice and consent of the Board.
c) If a director has three consecutive Board meeting absences, the Board may declare that director‘s position vacant.
4. Finances: The treasurer shall maintain a single checking account into which all receipts shall be deposited. Disbursements shall be solely by check. Place of banking is determined by the Board. The single signature of the treasurer or the president is authorized to sign the check. No non-budgeted expense in excess of $200 shall be incurred except by vote of the Board. The amount of annual member dues shall be determined by the Board. In the fourth quarter, the next year’s budget will be reviewed and approved. At the spring meeting of the Board, the treasurer will make an annual report of the receipts and disbursements covering the last fiscal year. A minimum of one director, duly authorized by the Board, shall audit the checking account at the end of the fiscal year prior to the spring meeting presentation.
5. Meetings, Quorum, Proxy, Fiscal Year: The biennial meeting of members shall be held in October or November in each odd numbered year for the election of Directors as well as any other matters. A quorum of members present at the biennial meeting shall constitute a majority for purposes of voting at that meeting. The Board shall meet at least twice yearly. Each meeting shall be held at a time, date and place as designated by the president or the Board.
a) Three directors shall constitute a quorum of the Board.
b) It is suggested that meeting dates be established and published well in advance, perhaps for the entire year, so that directors and other interested members may mark their calendars to give meeting dates a priority.
c) A special Board meeting may be called by the president or any two directors upon four days notice specifying the purpose, time, date, and place of meeting.
d) A proxy of a director or officer may be voted provided that it refers to a specific Board meeting, it contains general or specific authority to vote to a specific person who is a member and it is in writing signed by the director or officer giving the Proxy.
e) The fiscal year shall be from January 1st to December 31st.
6. Newsletter, Directory, and By-Laws: It is suggested that the newsletter be issued 3 times each year and that by-laws and a list of past presidents be available to members. The by-laws are to be reviewed at the biennial meeting of members.
7. Amendments, Roberts Rules: These by-laws may be amended at any biennial election meeting of the members of the Association, provided that there is prior notice of the amendment with the notice of the meeting, or at any special meeting of the members, provided that there is prior notice of the amendment with the notice of the meeting. Roberts Rules of Order, current edition, shall govern meeting procedures except for matters expressly stated in these by-laws.
ADOPTED: November 10, 2022