Text Box: preserve the Purposes of the Corporation as enumerated in Article II of the Articles of Incorporation and strengthen them through implementation with appropriate Covenants and By-Laws, acted upon in a timely fashion Sec. 4 Authority of the Board of Directors The Board of Directors is hereby authorized to conduct the business of the Corporation as pertains to the general operation thereof and to do what may be necessary and proper in carrying out its duties. Sec. 5 Power to Make By-Laws The Board of Directors shall have the power to make or alter any By-Law, provided it shall make no By-Law altering or fixing the term of office of any member of the then existing Board of Directors. Sec. 6 Power to Appoint Executive Committee The Board of Directors shall by resolution have the power to appoint an Executive Committee of two (2) or more Directors, who to the extent provided in such resolution, shall have and exercise the management of the affairs of the Corporation during the period set forth in such resolution. Sec. 7 Power of Board of Directors to Elect Officers The Board of Directors shall elect a President, Secretary and Treasurer who shall be members of the Board, and such other officers and agents, as it may deem advantageous or necessary to the corporate interest. Such additional officers or agents need not be members of the Board, and the Board shall also have the power to terminate any appointment at any time. Sec. 8 Responsibility of the Members of the Board Any member of the Board absent without excuse from two (2) scheduled Board meetings is subject to removal from the Board upon majority vote from the remaining Board Members. The Board will then open an office to appoint a new member and hold a vote to affirm or elect new officers as necessary. ARTICLE V OFFICERS Sec. 1 President The President shall preside at all meetings of the Board and Membership Meetings. (In the absence of the President, the members of the Board may select one of its members to preside). The President shall have general supervision of the affairs of the Corporation. Sec. 2 Secretary The Secretary shall issue all notices of meetings, shall keep a record of the minutes of such meetings, shall have charge of the corporate seal and shall sign with the President or other officer and board member all instruments requiring such signatures and shall prepare and mail the annual report required by the Corporation and Securities Bureau of Commerce Department of the State of Michigan. The Secretary may secure the services of any member of the Corporation, including Board members, to assist in performing the purely ministerial and clerical duties of the office. The Secretary shall also perform any other duties incident to the office. Sec. 3 Treasurer The Treasurer shall have custody of all monies and contracts requiring periodic payments by the Corporation and any other financial instruments of the Corporation. The Treasurer shall keep regular books of account which are to be balanced at least every two (2) months and shall under a general power from the Board of Directors; pay all bills or contracts requiring periodic payments by corporate check drawn upon the depository of the Corporation designated by resolution of the Board of Directors. The Treasurer shall also keep duplicate deposit receipts with name of source of each amount individually listed on the deposit ticket. Following the final due date of annual or special assessments the Treasurer shall notify the President of any delinquencies in such payments and shall report delinquencies still existing in each succeeding month. The Treasurer shall be bonded for an amount not to exceed the anticipated annual income of the Corporation, plus reserves, the cost of said bond to be paid by the Corporation. <end>

By-Laws Page 3

Rainy Lake Property Owners Association, Inc.

To contact us:

Phone: 586 465 0065

E-mail: rploa@core.com