2018 AMENDMENT TO THE BYLAWS OF
TWIN ROCK IMPROVEMENT ASSOCIATION

WHEREAS, the Bylaws of Twin Rock Improvement Association, Teller County, Colorado, have and do exist as internal documents of the Association; and

WHEREAS, the Bylaws permit a majority of Participating Property Owners to change or amend the Bylaws;

NOW THEREFORE, the Bylaws are hereby amended by an affirmative vote of a majority of Participating Property Owners.  Article II of the Bylaws now reads in its entirety as follows:

PURPOSE

The purpose of the Twin Rock Improvement Association shall be to further the development of Twin Rock Subdivision, Teller County, Colorado, to protect the recorded subdivision covenants, and to seek to ensure the Twin Rock development for the betterment of subdivision property owners.

MEMBERSHIP

1.       An owner of record of real property in Twin Rock Subdivision shall automatically be a member of the Twin Rock Improvement Association.

2.       Members in Good Standing are members who are current in assessments as of Aug. 31st every year. (Amended August 12, 2018 with Teller County Clerk and Recorder, Reception No. 712442)

3.       Participating Property Owners are Members in Good Standing who vote at annual meetings, or who vote within 30 days after receiving notice of covenant changes, assessments, or any other matter requiring a vote of the Members in Good Standing.

4.       Members in Good Standing shall be entitled to one (1) vote.

5.       Assessments shall be $75 per year, payable by Aug. 31st. (Amended August 12, 2018 with Teller County Clerk and Recorder, Reception No. 712442)  Members whose assessments are not paid before the beginning of the annual meeting may not make motions or vote at the annual meeting or in any other Association proceeding.

6.       Members in arrears may not use nor have access to the subdivision common ground (ponds, streams and picnic grounds) or subdivision news as posted on the Association web page.

7.       Assessments are subject to provisions set forth in the Colorado Common Interest Ownership Act.

MEETINGS OF MEMBERS

1.       An annual meeting of the members shall be held each year during the first two weeks of August at a time and place to be determined by the officers. Election of officers shall be one of the purposes of the meeting.  (Amended 12/21/2015 with Teller County Clerk and Recorder, Reception No. 684952)

2.       A special meeting of the members may be called at any time by the president or a majority of the officers. Officers shall consist of the president, vice president, and secretary/treasurer.

3.       The secretary shall prepare notices of annual and special meetings of members whose addresses are on file in the Association records. Notices may be delivered by regular mail, email, or by being posted on the Subdivision web page and Subdivision notice board on Jade Road.

4.       The purpose for special meetings shall be included in the notification.

OFFICERS (DIRECTORS)

DUTIES OF OFFICERS

1.       The president shall preside over all meetings of the board of directors and of the members. The president shall have general and active management of the business of the Association and shall see that all orders and resolutions of members are carried out. The president shall be an ex officio member of all committees.

2.       The vice president shall perform the duties and exercise the powers of the president during the president’s absence or disability.

3.       The secretary shall attend annual meetings of the members and special meetings of the board of directors, and shall record minutes of the proceedings of all such meetings. The secretary shall give notices required by the bylaws and perform other such duties as directed by the board of directors.

4.       The treasurer shall deposit all funds in a bank designated by the board of directors. The treasurer shall keep full and accurate accounts of all receipts and disbursements, and shall report on the financial condition of the Association to the president or the board of directors at regular meetings.

5.       The board of directors shall perform the duties of the Architectural Control Committee outlined in Article II of the restrictive covenants of record. In addition, the board shall review all complaints of other covenant non-compliance and take such administrative action as the board deems necessary.

EXECUTION OF INSTRUMENTS

1.       A director of the Association shall sign all checks, drafts and orders for payment of money. Permission from a majority of the board of directors shall be required before an officer/director spends more than $200.

2.       Liens and release of liens filed may be signed by any director.Only the board of directors shall have power to obligate the Association. Obligations shall not exceed the unobligated balance of funds on hand except by vote of a majority of Participating Property Owners.

 

ORDER OF BUSINESS

The order of business for all meetings shall be:

a.      Call to order
b.       Reading of minutes
c.        Report of the secretary
d.       Report of the treasurer
e.        Bills and correspondence
f.        Other officers’ reports
g.        Old business
h.       New business
i.         Special announcements
j.         Adjournment

In lieu of other rules or at the discretion of the president, Roberts Rules of Order shall prevail at all meetings of the Association.

AMENDMENT OF BYLAWS

 

Following approval by Participating Property Owners at the 2018 Annual Meeting held on August 12, 2018, Ballots for Approval of this Amendment of Article II to the Bylaws was subsequently sent out to all Participating Property Owners for approval.

Signatures of Participating Property Owners and results of votes pursuant to the foregoing amendment are available for review upon request at the office of the Twin Rock Improvement Association, the location of which may be determined by writing the Association at P.O. Box 534, Divide, CO  80814