BY-LAWS OF

TIGER ISLAND OWNERS ASSOCIATION, INC.

(a non-profit corporation)

 

ARTICLE I – NAME

 

                 The name of this corporation is TIGER ISLAND OWNERS ASSOCIATION, INC.  Its principal office shall be located in Lake City, Columbia County, Florida.  The initial office shall be at Route 10, Box 319, Lake City, Florida 32055.

ARTICLE II – MEMBERSHIP

Membership in the corporation shall be limited to those persons, firms or corporations who are owners of lots, parcels or tracts in a private unrecorded subdivision in Levy County, Florida, know as Tiger Island Sportsman’s Club (herein the “Development”).  Membership in the corporation is an appurtenance to ownership of lots in the Development, and shall run with title to each lot.

Each lot within the Development shall be entitled to one vote, whether owned by a single owner or more than one person, as tenants by the entireties, tenants in common, joint tenants with right of survivorship, or any other form of joint ownership.  A member shall be entitled to cast one vote for each lot in the Development owned by such member.

No stock certificates shall be issued by the corporation, however, the corporation shall maintain a register for recording names and addresses of each member and may issue a certificate as reasonably requested from time to time by a member evidencing such membership and the number of votes then held by such member.

Membership in the corporation is an appurtenance to ownership of each lot in the Development, and such membership shall constitute an appurtenance running with the title to each such lot.

Those lots within the Development which have frontage on County Road 347 (Tracts 1, 6 through 23, inclusive, 93, 94, 104, 72 and 110) shall not be required to pay assessments for road maintenance and shall not be entitled to vote with respect to the amount of the assessments for said road and street maintenance, but shall have all other rights, privileges and responsibilities of membership.

ARTICLE III – MEETINGS OF MEMBERS

Annual ownership meetings shall be held on the second Monday in January of each year, commencing in January, 1991, at Lake City, Florida, or such other place in the State of Florida as shall be specified in a written notice to all members.  Special meetings of the members may be held at such time and place as may be specified in a notice thereof, called at any time by the President or by a majority of the Board of Directors.  Special meetings shall also be called by the President upon request of a majority of the members.

The Secretary shall mail or deliver written notice of all meetings to members at least ten (10) days before the date of the meeting.  All notices shall be mailed by regular mail or served to the address of the member as it appears on the books of the corporation.

A quorum for the transaction of business at any regular or special meeting shall be ten (ten%) percent of the total number of members who are represented in person or by proxy at such meeting; provided that the members present at any meeting, although less than a quorum, may adjourn the meeting to a future time. The vote of a majority of the members present and voting when a quorum is present shall decide any question, unless these by-laws or the articles of incorporation provide otherwise, in which event the votes required by these by-laws or the articles of incorporation shall control.

The books of the corporation shall be closed for a period of ten (10) days immediately preceding any meeting of the members and only those members properly registered on the books of the corporation before that time shall be entitled to vote at such meeting.

ARTICLE IV – BOARD OF DIRECTORS

The property, business and affairs of the corporation shall be managed by a board of not less than three (3) nor more than nine (9) directors.  Directors shall be elected annually by the members at the annual meeting.  Then number of directors shall be set at the annual meeting of members, shall be elected by plurality vote of the members, and shall hold office until the next annual meeting of members, or until their successors have been elected and qualified.  If a vacancy occurs in the Board of Directors at any time between annual meetings, the remaining directors shall elect a person to serve the unexpired term of the director who has resigned.

The annual meeting of the Board of Directors shall be held in Lake City, Florida, or such other place as may be designated or agreed upon, immediately following the adjournment of the annual meeting of the members, without notice.  If an quorum is not present, the meeting may be adjourned until a later date, in which event, written notice of the adjourned meeting shall be mailed or delivered to each director by the Secretary at least ten (10) days before the time fixed for the meeting.

Special meetings of the Board of Directors may be held at such place as may be designated in a written notice thereof as called by the President or a majority of the members of the Board of Directors. Notice of any special meetings shall be mailed or personally delivered to each director by the Secretary at least five (5) days before the time fixed for the meeting.  By unanimous consent, the directors may waive notice of a special meeting and hold the same without notice at any time or place.  All notices of special meetings shall state the purpose of the meeting. The directors may establish a schedule of regular meetings to be held at the office of the corporation and no notice shall be required of such regular meetings.

A quorum for the transaction of business at any meetings of the Board of Directors shall consist of any majority of the members of the board, but a majority of those present at any meeting shall have the power to adjourn the meeting to a future time.

The directors shall elect the officers of the corporation at the annual directors’ meeting and an officer may be removed at any time by a two-thirds vote of a majority of the members.  A director may be removed by affirmative vote of a majority of the members. The Board of Directors has authority to fix the salaries, if any, of all officers, agents and employees of the corporation.

ARTICLE V – OFFICERS

The officers of this corporation shall be a President, a Vice President, a Secretary and a Treasurer.  In addition, such Assistant Secretaries and Assistant Treasurers may be appointed by the Board of Directors to serve at the pleasure of the board.  All other officers shall be elected for a term of one (1) year and shall hold office until their successors are duly elected and qualified.

All officers must be members or an employee of a corporate member, except the Secretary or Assistant Secretary.  The offices of Secretary and Treasurer may be held by one person.  However, no one shall act as both President and Secretary.

The President shall be the chief executive officer and preside at all meetings and shall have executive powers and general supervision over the affairs of the corporation and other officers.

The Vice President shall perform all of the duties of the President in his absence, and such other duties as may be delegated to him by the Board of Directors.

The Secretary shall issue notices of all meetings and keep minutes of those meetings; shall have charge of all corporate books; records and papers; shall be custodian of the corporate seal; and shall perform all other duties incident to his office.

The Treasurer shall be custodian of all monies and other assets of the corporation and shall, if required by the Board of Directors, give bond in such sum and with such sureties as the directors require.  The Treasurer shall keep regular books of accounts and submit them, together with all vouchers, receipts, records and other papers, to the directors for their examination and approval as often as may be required, and shall perform all other duties incident to his office.

An Assistant Secretary or Assistant Treasurer shall have such duties as may be assigned to them by the Board of Directors from time to time.

Any vacancy in the office of President, Vice President, Treasurer, Secretary shall be filled by the Board of Directors. The successor shall hold office for the balance of the unexpired term.

ARTICLE VI – FINANCES AND DUES

The funds of the corporation shall be deposited in a bank having an office in Columbia County, Florida, an shall be withdrawn only upon check or order of one of the officers and countersigned by another officer.  For accounting purposes, the corporation shall operate on the calendar year.

The Board of Directors shall have authority to establish from time to time the annual membership dues and assessments to each member for the purposes and in the manner hereafter stated.

The books and records of the corporation shall be open for inspection by members, shall be kept and maintained at the offices of the corporation, and may be inspected upon reasonable notice during reasonable business hours.

ARTICLE VII – PURPOSE

The principal purpose for which the corporation is organized is to maintain the road system serving the several tracts within Tiger Island Sportsman’s Club.  It is acknowledged that the corporation shall have no ownership of record of the lands upon which the roads are located, such lands being owned by each separate owner of a tract within the Development.  Patten Corporation Gulf-Atlantic, the developer of the Development, has assigned or will assigned to the corporation all its rights with respect to easements pertaining to the road system and the corporation shall have all rights of Patten Corporation Gulf-Atlantic as reserved in the several deeds to the owners of the tracts for the purpose of conveying or otherwise dealing in and with such easements for the road system and for utility purposes.

If a member shall violate said restrictions and as a result the corporation is required to take action to enforce the same, the corporation shall have a lien upon the property owned by such member within the Development for the purpose of enforcing its rights to recover attorney’s fees, court costs and other expenses incurred in connection with such enforcement in the same manner as the corporation has a lien for unpaid assessment as herein otherwise provided.

ARTICLE VIII – ASSESSMENTS

The Board of Directors shall have authority, subject to the limitations in Article II, Section 5 hereof, to establish assessments as to each lot in the Development, which are necessary or required to maintain the streets, roads, drainage areas and other common areas owned by the corporation, and serving the several lots within the Development, such assessment shall be made annually or more frequently, as the Board of Directors may determine necessary for such maintenance.  The term maintenance shall include repairs, upkeep and improvements as may be determined from time to time to be appropriate by the Board of Directors.

The Board of Directors shall notify each lot owner of the amount of assessment for each year, and establish a due date upon which such assessment shall be paid.  No assessment shall be due and payable in less than 30 days from date of notice to a lot owner, except in the event of emergencies.  Upon the failure of a lot owner to pay any assessment when due, and such failure continues for a period of more than 30 days after written notice from the Board of Directors to such lot owner, the Board of Directors shall have a lien upon the lot owned by such delinquent lot owner, and enforce the same as otherwise permitted by law.

As provided in the restrictions, the Board of Directors shall have a lien upon the lot owned by an owner who is delinquent in the payment of assessments for the amount thereof, together with attorney’s fees, costs and other expenses incurred in connection with the filing and enforcement of such lien.  Such lien may be enforced by action in the Circuit Court of the Eighth Judicial Circuit, in and for Levy County, Florida, in the manner otherwise provided and permitted by the laws of Florida for the enforcement of a lien upon real property.  Delinquent lot owners shall be liable for all costs, including reasonable attorney’s fees incurred by the corporation in the enforcement of any lien.

ARTICLE IX – AMENDMENTS

The by-laws or articles of incorporation of the corporation may be altered, amended or repealed at any regular or special meeting of the members by a three-fourths vote of all members.  Notice must be given of the general nature of the proposed amendment.

In addition, the by-laws may be altered, amended or repealed at any regular or special meeting of the Board of Directors at any time, upon a three-fourths vote of the members of the Board of Directors.