Jeff From Salem
newbie
- Joined
- May 3, 2017
- Messages
- 151
- Reaction score
- 13
- Points
- 28
- Resorts Owned
- Kauai Beach Villas, Samoset Resort (in ME), The Harborside Inn (Edgartown, Martha's Vineyard, MA)
Aloha Folks.
I was reading the By Laws today and thought I'd pass along several passages that were interesting to me. The By Laws (and amendments) are up on the Grand Pacific KBV Owners Community website. For some of these, I'm not sure what the repercussions might be going forward, but something to chew over. Any thoughts about the By Law will be in brackets:
3.01 Directors and Qualifications - Each Director must be a member which shall include an officer of a corporation member, or a general partner of a member is a partnership, or trustee of trust that is a member. [If I'm reading this correctly, I'm not sure if either Danielle Ramos or former President of the IOA, Linda Kolstad, fit into any of these criteria. As representatives of a corporate interest, Wyndham, neither of them individually owning any property or deeds at KBV, neither are officers of Wyndham.]
3.10 Director Conflict Of Interest - Director may vote if conflict is disclosed and noted. If their vote is to be counted, it must be fair and reasonable [whatever the latter means].
3.12 Removal of Directors - Can be done without cause by vote of the Directors. A Director who is going to be removed has the right to speak to the Board before the action is ultimately taken.
4.02 Election of Officers - Other than the President, the Board Of Directors shall elect from the membership or from the Board, a Vice-President, a Secretary, and any assistants. [Hmmm. Anyone want to offer themselves up and submit to the Board of Directors for any position? Officers are voted upon by the BOD after the conclusion of the annual voting. Get your name in along with a desired position, why you'd be a good person for that officer position, and perhaps your bio. Descriptions of each officer position are posted in section 4 of the By Laws.]
4.05 Secretary - The Secretary shall keep the minutes of the Interval Association and the Board Of Directors. [There are no indications as to what constitutes "minutes", whether only votes are recorded, or the details of the entire meeting are to be recorded and posted. The latter would be immensely helpful to the membership at large.]
Corporate Records
5.01 Minute Book - The IOA shall keep a complete book of minutes of all meetings of its Directors and its members.
5.04 Every member shall have the right to inspect all books, records, and documents of every kind of the Interval Association. Each inspection may be made in person or by agent or attorney (Fees may occur for copying may be incurred by member).
I hope this is helpful.
Jeff
I was reading the By Laws today and thought I'd pass along several passages that were interesting to me. The By Laws (and amendments) are up on the Grand Pacific KBV Owners Community website. For some of these, I'm not sure what the repercussions might be going forward, but something to chew over. Any thoughts about the By Law will be in brackets:
3.01 Directors and Qualifications - Each Director must be a member which shall include an officer of a corporation member, or a general partner of a member is a partnership, or trustee of trust that is a member. [If I'm reading this correctly, I'm not sure if either Danielle Ramos or former President of the IOA, Linda Kolstad, fit into any of these criteria. As representatives of a corporate interest, Wyndham, neither of them individually owning any property or deeds at KBV, neither are officers of Wyndham.]
3.10 Director Conflict Of Interest - Director may vote if conflict is disclosed and noted. If their vote is to be counted, it must be fair and reasonable [whatever the latter means].
3.12 Removal of Directors - Can be done without cause by vote of the Directors. A Director who is going to be removed has the right to speak to the Board before the action is ultimately taken.
4.02 Election of Officers - Other than the President, the Board Of Directors shall elect from the membership or from the Board, a Vice-President, a Secretary, and any assistants. [Hmmm. Anyone want to offer themselves up and submit to the Board of Directors for any position? Officers are voted upon by the BOD after the conclusion of the annual voting. Get your name in along with a desired position, why you'd be a good person for that officer position, and perhaps your bio. Descriptions of each officer position are posted in section 4 of the By Laws.]
4.05 Secretary - The Secretary shall keep the minutes of the Interval Association and the Board Of Directors. [There are no indications as to what constitutes "minutes", whether only votes are recorded, or the details of the entire meeting are to be recorded and posted. The latter would be immensely helpful to the membership at large.]
Corporate Records
5.01 Minute Book - The IOA shall keep a complete book of minutes of all meetings of its Directors and its members.
5.04 Every member shall have the right to inspect all books, records, and documents of every kind of the Interval Association. Each inspection may be made in person or by agent or attorney (Fees may occur for copying may be incurred by member).
I hope this is helpful.
Jeff