Page 6 - Kings Point Property Owners Association - 2015 By-Laws

(b) Supervise all officers, agents and ernployees of this Association, and to see that their
duties are properly performed;

(c) As more fully provided in the Declaration. to:

(l) fix the amount of the annual assessment against each Lot at least thirty (30)

days in advance ofeach annual assessment period:

(2) send written notice of each assessment to every Owner subject thereto at least
thirty (30) days in advance ol'each annual assessment period: and

(3) foreclose the lien against any propefty for which assessments are uot paid in
accordance with applicable lar,v.

(d) lssue, or to cause ar1 appropriate ollicer to issue. upon demand by any person a resale
certificate setting forth whether or no1 any assessment has been paid and containing any other

information allowed by law. In accordarrce with applicable law, a reasonable charge may be

made by the Board for the issuance of these cerlificates. If a cer-tiflcate states an assessment lias
been paid, such certificate shall be conclusive evidence of such payment;

(e) Procure and maintain adequate liability and hazard insurance on property owned by
the Association and directors and officers liability insurance providing coverage for all current
and fbrmer directors. officers. committee members and designated employees. if any, as well as

any other insurance deemed appropriate and commonly available;

(f) Cause all offlcers or employees having tiscal responsibilities to be bonded, as it may

deem necessary or appropriate. 'fhe Association shall pay fbr the prerniums on such bonds;

(g) Cause the Common Area to be maintained;

(h) Comply with applicable laws aff-ecting the property owners' associatiou; and

(i) Exercise such other and fiulher duties as provided in the Declarations and the '['exas
Non-Profit Corporation Act.

ARTICLE VTII
OFFICERS AND TFIEIR DLJTTES

Section 1. Enurneration of Offices.'fhe ofllcers of this Association shall be a president
and vice-president, who shall at all tirnes be members of the Board of-Directors, a secretary, and

a treasurer, and such other ofllcers as the Board may from time to tirne by resolution create.

Section 2. Election of Ofllcers. The election of officers shall take place at the frrst

meeting of the Board of Directors lbllou'ing each annual meeting of'the metnbers in accordance
with applicable law.