MEREDITH ISLANDS ASSOCIATION, BYLAWS

Adopted by membership vote 7-7-2018

ARTICLE I. The name of the association shall be MEREDITH ISLANDS ASSOCIATION

ARTICLE II: PURPOSE

Section 1. The objectives of the association are:

A. Conservation and protection of the island properties in the Town of Meredith New Hampshire.

B. Advocation of laws and regulations to protect the use of and water quality of Lake Winnipesaukee.

C. Cooperation with other organizations in the use and protection of Lake Winnipesaukee, its islands and shorefront.

Section 2. The association will work with the Town of Meredith, New Hampshire, and the State of New Hampshire to further any activity which will be in the best interest of island property owners.

ARTICLE III: MEMBERSHIP AND DUES

Section 1. Any owner of island property in the Town of Meredith may become a full voting member with one member and one vote per property unit. Owner shall include immediate family members of the registered owner and in the case of a trust, all trustees and their immediate family members Friends of the association who do not own island property in the town of Meredith may become associate members with no voting rights.

Section 2. Dues shall be established at each annual meeting

Section 3. Each member, current with dues payment, present at a meeting or by proxy shall be entitled to one vote. Proxy votes may be cast by mail or e-mail.

Section 4. No funds belonging to the Association may be distributed to any member except in repayment of expenses incurred on behalf of the Association. Section 5. In the event of the dissolution of this Association, all assets shall be distributed for one or more exempt purposes to organizations that are committed to the objectives of this Association and, further, within the meaning of Section 501 (c) (3) of the Internal Revenue Code, or corresponding section of any future federal tax code, or shall be distributed to the federal government, or to a state or local government for a public purpose.

ARTICLE IV. MEETINGS

Section 1. An annual meeting for the election of officers and transaction of business shall be held between July 1 and August 31 in the Town of Meredith, New Hampshire. Regular business may also be conducted at meetings of the elected Officers and board of Directors.

Section 2. Notice as to the time and place and agenda of the annual meeting shall be mailed by email or USPS to each member at least ten days prior to the meeting.

Section 3. A quorum shall consist of at least twenty (20) members.

ARTICLE V. OFFICERS AND DIRECTORS

Section 1. The Board of Directors shall consist of the President, Vice President, Secretary, Treasurer and five Directors at large.

Section 2. Each Officer and Director shall be elected at the annual meeting to serve for a period of three years. Expiration of terms shall be staggered so that no more than three terms will expire in any given year.

a. Special one-time limit on terms first annual election. This clause is to be removed from bylaws after 1stelection of the board. 1. Term of office shall be limited as follows for first election: a. President 3 years b. Vice president 2 years c. Secretary 1 year d. Treasure 3 years e. Director 1 2 years f. Director 2 1 year g. Director 3 3 years h. Director 4 2 years i. Director 5 1 years

Section 3. Duties of the Officers and Directors.

a. President. The President shall preside at all meetings and perform other duties as assigned by the Directors or by vote of the members.

b. Vice President. The Vice President shall perform the duties of the president in his or her absence and any other duties assigned by the President.

c. Secretary. The Secretary shall prepare minutes of all meetings, maintain mailing lists, and aid in correspondence.

d.Treasurer. The Treasurer shall have custody of funds, books, and other valuable papers of the Association. The Treasurer is also charged with the task of collecting annual dues as set at the annual meeting and providing a quarterly statement of finances to the Board of Directors.

e. Directors. The Directors shall assist the Officers in carrying out the business of the Association. They may also recommend items for consideration by the general membership.

f. Board of Directors. The board is charged with implementing items voted on at the annual meeting and conducting the regular business of the Association as described in ARTICLE II above.

Section 4. Committees. The Officers and Directors may create standing or special committees to further the purpose of the Association as described in ARTICLE II above. These committees are to be staffed by members through solicitation and appointment by the Board of Directors.

ARTICLE VI. CONTRACTS. No Officer or Director shall have the power to enter into any contract without a vote by the Board of Directors. The Board of Directors are limited to approving contracts of $500.00 or less unless voted on by a quorum present at an annual or special meeting of the membership that is duly called.

ARTICLE VII. AMENDMENTS TO THE BYLAWS. These bylaws may be amended by a majority vote of the membership present at any regular or special meeting of the Association provided that a quorum is present, and the meeting has been duly convened.

Adopted by vote-