Declaration of
COVENANTS, CONDITIONS AND RESTRICTIONS (CC&R's)
and
BYLAWS
prepared by Cruise Ship Condos LLC,
Developer and Declarant,
on behalf of
World Yacht Club Ltd, Association
of Shareholders
B Y L A W S Articles XV and XVI
AMENDMENTS
15.01. Power of Members. Bylaws may be adopted, amended, or repealed by a two-thirds (67%) vote of a quorum (majority) of Members entitled to vote, at a regular, annual meeting, or a special meeting of members duly called for the purpose, or by the written consent of such Members, except as otherwise provided by law, the Declaration, or by the Articles.
After the Conversion Date when the Class B membership becomes converted to Class A membership in accordance with the provisions of Article IV of these Bylaws, bylaws may be adopted, amended or repealed by a two-thirds (67%) vote of a quorum (majority) of Members entitled to vote, at a regular, annual meeting, or a special meeting of members duly called for the purpose, or by the written consent of such Members, except as otherwise provided by law, the Declaration, or by the Articles.
GENERAL MATTERS
16.01. Checks, Drafts, Etc. All checks, drafts, or other orders for payment of money, notes, or other evidences of indebtedness issued in the name of or payable to the Association shall be signed or endorsed by two persons, normally the President or Chairman and Treasurer, and in such manner as from time to time shall be determined by resolution of the Board; provided, however, the signatures of at least two persons, who shall be members of the Board, or one officer who is not a member of the Board and a member of the Board, shall be required for the withdrawal of moneys from the Association's reserve accounts. As used in this section, "reserve accounts" means moneys that the Board has identified from its annual budget for use to defray the costs of repair or replacement of, or additions to, major components of the Association Property and Common Area for which the Association is responsible.
16.02. Contracts, Etc., How Executed. The Board, except as otherwise provided in these Bylaws, may authorize any officer or officers, agent or agents, to enter into any contract or execute any instrument in the name of and on behalf of the Association and such authority may be general or confined to specific instances; and unless so authorized or ratified by the Board or within the agency power of an officer, no officer, agent, or employee shall have any power or authority to bind the Association by any contract or engagement or to pledge its credit or to render it liable for any purpose or in any amount.
16.03. Construction and Definitions. Unless the context requires otherwise, the general provisions, rules of- construction, and definitions in the Law of the Country of registry shall govern the construction of these Bylaws. Without limiting the generality of the foregoing, the singular number includes the plural, the plural number includes the singular, the masculine, feminine and neuter genders include the other or others and the term "person" includes both a corporation and a natural person.
16.04. Conflict. In the case of any conflict between the Articles and these Bylaws, the Articles shall control; and in the case of any conflict between the Declaration and these Bylaws, the Declaration shall control; and in the case of any conflict between the Articles and the Declaration, the Declaration shall control.