ByLaws - cont.

Article 3: Members and Membership Privileges

Article 4: Meeting of Members

    4.01– Place of Meetings. Meetings of the Members of the corporation may be held at a place to be determined by the Board of Directors within Maury County, Tennessee or Williamson County, Tennessee.

    4.02– Annual Meeting.    After the Developer has relinquished control of the Association in the manner stated in the Declaration, unless otherwise specified in a written notice from the board of Directors, an annual meeting of the Members of the corporation shall be held each year on the second Thursday of the third month following the close of the fiscal year if not a holiday, and if a legal holiday, the on the next secular day following, at 7:00 p.m. at which time the Members shall elect a Board of Directors, and shall transact such other business as may properly be brought before the meeting.  Provided ,however, the annual meeting must be held no later than the forty-five (45) days from the original scheduled date. The first regular annual meeting of the Members may be held, subject to the terms hereof, on any date at the option of the Board of Directors; provided, however, that the first meeting may (if necessary to comply with the Federal Regulations) be held no later than the earlier of the following events: (a) four months after all the Lots have been sold by the Developer; or (b) five years following conveyance of the first Lot by the Developer. 

   4.03– Special Meeting.  Special meetings of the Members, for any purpose or purposes, may be called by the President, the Board of Directors, or by Members having not less than five (5%) percent of the total percentage values of those votes entitled to be cast at such meeting. Business transacted at all special meetings shall be confined to the subjects in the notice of such meeting.

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