Section I. The name of the Corporation shall be Northampton Heights – Dividing Line Property Owners Association, Inc. A Non-Profit Association organized and existing under the laws of the State of North Carolina.
Section I. The name of the Corporation shall be Northampton Heights – Dividing Line Property Owners Association, Inc. A Non-Profit Association organized and existing under the laws of the State of North Carolina.
Section I. Membership— Each legal owner of an equitable title to property in Northampton Heights or Dividing Line Subdivisions located in Northampton County, North Carolina and Brunswick County, Virginia, shall be a member of the Association. For the purpose of determining membership such ownership will be deemed to have vested upon delivery of a duly executed deed or contract to the grantee or vendee upon request, and terminated or transferred when said interest is conveyed to a subsequent owner of the legal or equitable title. Any member who has failed to pay his dues for the current year as set forth in Article VII shall be ineligible to vote until payment is made.
Section I. Annual Meeting – A business meeting will be held on a Saturday, sometime during the months of June, July, August, or September, at which time the voting members will elect new members of the Board to replace the outgoing Directors; and to conduct any other business pertaining to the Northampton Heights, or Dividing Line Subdivisions.
Section I. Number and Qualifications – There shall be a Board of Directors consisting of five (5) persons, each of whom shall be a member of the Association and at least 21 years of age. A director need not be a resident of North Carolina or Virginia.
Section I. President - The President shall preside at all meetings of the Directors or the members and shall have general charge of and control over the affairs of the corporation subject to such regulations and restriction as the Board of Directors shall from time to time determine. The President or his appointed representative shall perform an annual financial review. The term of office for the President shall be one (1) year with no restriction on succeeding years of election.