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Annual Meeting Info
The
Surfside Estates Annual Meeting will be held on
Thursday, November 4, 2010 at 7:00 p.m.
We will be voting on two items. The first one
is a change in the documents. We voted on this
last year and did not get enough votes to pass
it.
Currently our Bylaws (Article III) state the
following:
3.4
Notification and Price. No transfer of a
Membership Certificate shall be effective unless
the Board of Directors is first notified of the
transfer in writing at least (15) days prior
thereto and the Board of Directors issues its
written approval of the transfer, which approval
shall not be unreasonably withheld. ALL
TRANSFERS SHALL NOT EXCEED THE INITIAL PURCHASE
PRICE PAID FOR THE MEMBERSHIP CERTIFICATE BY THE
MEMBER.
Clarification:
Membership Certificate = Share. If you paid
$25,900 for your share, according to our
documents, you can only sell it for $25,900. We
are proposing removal of the wording (in caps
above) from the Bylaws. Understandably, no-one
follows this, but our documents should reflect
what actually happens here.
If you are in favor of making this change,
please vote YES on your ballot or proxy. AND
PLEASE VOTE, WE NEED A MAJORITY OF ALL VOTING
MEMBERS IN ORDER FOR IT TO PASS. THERE ARE 219
SHAREHOLDERS.
The second item we are voting on, is considered
a material alteration of the building. We are
proposing to construct a pergola which will
create shade in the center area of the roof
deck. The cost will not exceed $5,000.
If you have any questions about either of these
two items, please contact me!
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