Definitions & Board Responsibilities

FALCON MINE ROAD ASSOCIATION
DEFINITIONS

Member – any individual or entity owning land which lies within the Murphys Pines subdivision and/or is accessed exclusively through the private roads of the subdivision.

Voting Member – A property owner/member who is current in all payment of fees assessed or levied as of 60 days prior to the date of the vote. Members are entitled to one vote per parcel on which Fees and assessments have been paid.

Board of Directors- The business of the FMRA shall be governed by the Board of Directors composed of 5 members, in good standing, who own property within the subdivision. The Board Members will be elected by a simple majority vote, of the voting members attending the regular annual meeting.

Duties of the Board – The Board shall be responsible for carrying out the goals established in the FMRA By-laws and shall establish guidelines for the ongoing maintenance and repair of the roadway. The board shall keep a complete record of its acts and proceedings, and shall present a full statement at the annual meeting showing the assets and liabilities and the general condition of its affairs.

Terms and Meetings -The board members shall serve for a term of one year. The board shall meet at least quarterly at an agreed upon time and place.

Officers – T he Board of Directors shall elect from its own members, willing to serve for no pay, a Chairperson, Vice Chairperson, Secretary and Treasurer.

The Chairperson, and in his/her absence, the Vice Chairperson – The Chairperson of the Board presides at all meetings of the Board of Directors. The Chairperson is ultimately responsible to see that orders and resolutions of the Board of Directors are carried out. The Chairperson generally signs all contracts and other written instruments and may co-sign checks and promissory notes.

The Secretary – The secretary records the votes and keeps the minutes of all meetings and proceedings of the Board and of the Members. The secretary serves or causes to be served, notice of meetings of the Board and of the Members; keeps appropriate current records showing the Members of the Group together with their address, and performs other duties as required by the Board.

The Treasurer – The treasurer receives and deposits in appropriate bank accounts all monies of the Group and disburses such funds as directed by resolution of the Board of Directors. The treasurer signs all checks of the association; is keeper of the books of account; prepares an annual budget and a statement of income and expenditures to be presented to the membership,

Note: The offices of the Secretary and the Treasurer may be a combined office at the discretion of the Board of Directors

Member at Large – The member or members at large are the 5th or the 4th and 5th member(s) of the Board of Directors and fulfill the duties as assigned by the Chairperson or by the board. One member at large may serve as a “sergeant at arms” as assigned by the Chairperson.