LAKE CONWAY HOME OWNERS ASSOCIATION
EIN 27- 0262218
I. Purpose and Legal Status and Disbursements Limitation
1. It shall be the purpose of Lake Conway Home Owners’ Association to strive to better the lake area life style, to represent the interests of area members, to improve the quality of the lake and to maintain property values. It shall be a non profit federal 501 C 4 corporation. It shall also be a mutual benefit type of non profit corporation under the Arkansas Non Profit Corporation Act of 1993, as registered with the Secretary of State. This corporation shall have no stock issued and shall pay no dividends.
2. LCHOA shall be a social welfare organization per 501 C 4 requirements. It shall not to be operated primarily for profit but for the common good and welfare of the people living or owning property around Lake Conway, not just the voluntary members of LCHOA. Lake Conway is an Arkansas Game and Fish Commission (AGFC) owned lake for use by the general public. The betterment of the lake quality by LCHOA will also benefit the public living elsewhere who use the lake. Our web site is available by internet to anyone, and its communications will benefit our members as well as potentially benefitting others who access it.
3. No part of the net earnings shall inure directly to the benefit of a members except as compensation for services rendered and distributions in furtherance of the purposes of LCHOA. No expenditures shall be made for exterior maintenance of members’ homes. LCHOA shall not substantially attempt to influence legislation or any candidate’s political campaigns or carry on any other activities not permitted by section 501 C 4 of the Internal Revenue Code. No disbursement shall be made for any public fund raising drive, unless related directly to the improvement of Lake Conway.
1. Class A
They shall be owners or rentors of a home or property in the 100 year flood plain around the lake. At minimum this shall include all property contiguous to the AGFC right of way area around the lake regardless of actual elevation.
They shall have the right to vote, participate in meetings and make motions.
2. Class B
They shall be commercial entities in the area of Lake Conway
who choose to pay dues. They shall have the right to vote,
participate in meetings and make motions.
4. Membership shall be voluntary. All must have a membership application on file. There shall be only one membership per household. In the event of multiple family owners of a property each family shall be allowed one membership.
III. Board of Directors
This shall consist of the Officers and the Web Site Moderators. It shall manage LCHOA business in all matters between Annual Meetings. It shall set ad fees for the web site. It shall meet monthly but may hold special meetings to discuss items that cannot wait until a scheduled meeting. It shall have the right to make an additional special dues assessment one time each fiscal year. It shall select a Web Master and an Assistant Web Master. It shall prepare a proposed slate of Officers and Moderators for election at the Annual Membership meeting.
The president shall chair the meetings of the Board and Membership and may use any standard parliamentary procedure. The president shall make an annual report and budget proposal at the Annual Membership Meeting and appoint all committees. The president shall represent LCHOA as needed in all official business of the association. He shall cosign all checks.
2. 1st VP/Treasurer
This officer shall be responsible for the monies of LCHOA, making all bank deposits, writing all checks to be cosigned by the Treasurer and President and making a report at each regular Board meeting and Annual Membership Meeting. This officer shall be responsible for filing an annual return to the IRS as required for nonprofit corporations. This officer shall keep a current record of all dues paying members, and shall assume the duties of the President in the event of any absence.
3. 2nd VP/Secretary
This officer shall be responsible for keeping minutes of each meeting of the Board or Membership and producing the notice of meetings. These duties may be delegated at his/her discretion. This officer shall keep a current list of all members. This officer shall keep an official copy of all important documents and communications, and these files shall be delivered to the new Secretary. This officer shall file an annual report to the Secretary of State as required for an Arkansas nonprofit corporation. This person shall assume the duties of the President in any absence of the above two officers.
4. All officers shall possess a key to the post office box of LCHOA.
5. All officers shall be Class A members.
6. The officers shall be elected at the Annual Membership Meeting. Vacancies in Vice Presidential offices occurring between Annual Meetings shall be filled by the Board by majority vote of those voting.
V. Web Site and Moderators
1. There shall be three Moderators elected by the Membership at the Annual Meeting. They may share responsibility in rotation and meet as often as is necessary. They shall have equal authority but with items of major importance or dispute to be decided by majority vote. They shall be responsible for soliciting articles and news for the web site. They shall communicate with the Web Master and Assistant Web Master regarding any problems with the web design or functioning, who shall be the authority on such matters and who shall be the contact with the Web Host.
2. Communication is one of the major reasons for the existence of LCHOA. The web site shall be the central means of this communication. The moderators shall screen all communication entries, forum submissions and ads before their publication on the web site to maintain correct conduct and promote a highly favorable public image of LCHOA without unduly impeding or discouraging members’ self expression. They shall strive to not delay publication more than 24 hours in these actions. Their editorial decisions shall not be appealable.
3. Moderators shall be Class A members.
VI. Standing Committees
1. Membership and Dues Committee
This shall consist of two to three members who shall be responsible for soliciting membership and encouraging payment of dues to renew membership.
2. Advertising Committee
This shall consist of two members who shall solicit web site advertising.
3. Dam Operations and Lake Level Committee
This shall consist of two to three members who shall monitor and study the dam operation and the lake level and any factors that affect it. They shall make a report to the Board at least quarterly. They shall be Class A or B members.
4. Lake Quality Committee
This shall consist of two to three members who shall monitor the lake quality and any factors that affect it. They shall make a report to the Board at least quarterly. They shall be Class A or B members.
5. Lake Advisory Committee
This shall consist of the Officers and the Dam Operations and
Lake Level Committee and Lake Quality Committee members plus
additional members at the discretion of the President. Its
purpose shall be to meet with the Arkansas Game and Fish
Commission representatives periodically to discuss any lake
7. All Standing Committee appointments must be Class A members unless stated otherwise above.
VII. Dues and Special Assessments
1. Annual dues for the following year are set by the Membership in their Annual Meeting. Dues shall be delinquent on the later of January 31 or 30 days after the Annual Meeting.
2. The Board shall have the right to set Special Assessment Dues. This shall be limited to one time each fiscal year and limited to 50% of the previously set dues.
VIII. Meetings and Fiscal Year
1. An Annual Membership Meeting shall occur yearly on the 2nd Tuesday in January at 7pm unless called earlier by the Board. If delayed due to unforseen circumstances, it must be held as soon as practicable. Notice of this shall be given to members in the web site or by mail at least 2 weeks prior to the meeting. A report of all committees and the President and Treasurer shall occur. Election of Officers and Web Site Moderators, approval of the budget and setting of dues, all for the fiscal year, shall occur.
2. The fiscal year shall be the calendar year.
3. Special Membership meetings may be called by the President or by a petition signed by 10% of dues paying members presented to the President or sent by certified mail to the address of LCHOA. The meeting must be arranged within 15 days of the receipt of the petition by the President, and notice shall be given to members in the web site or by mail as soon as practicable. At such meetings only business directly pertaining to the stated purpose may be transacted.
4. A quorum for any meeting of LCHOA shall be those present.
IX. Compensation and Expenses Reimbursement
All officers, moderators and committee members shall serve without pay. Expenses incurred by any member shall be reimbursed after a report is made in a Board meeting and if the expenditure is approved.
X. Removal of Board Members
Any Officer or Web Site Moderator may be removed by a 2/3 majority of those members voting at any Membership Meeting. If done at a Special Membership Meeting the proposed meeting and removal must be in a petition signed by 10% of dues paying members presented to the President or sent by certified mail to the address of LCHOA. The Special Membership Meeting must be arranged within 15 days of the receipt of the petition by the President, and notice shall be given to members in the web site or by mail as soon as practicable.
XI. Bylaws Amendments
Amendments proposed by the Board must be submitted at least 4 weeks prior and published on the web site or mailed to members at least 2 weeks prior to the meeting. Amendments may also be proposed by any Class A or B member at the Annual Meeting or a Special Meeting called for that purpose. Amendments’ passage require a 2/3 majority of those members voting.
LCHOA hereby indemnifies the Board for all actions undertaken in good faith while representing LCHOA.
In the event of cessation of LCHOA operations, any money remaining after all liabilities have been paid, in the judgment of the Board in consultation with an Accountant, shall be donated to the AGFC for Lake Conway management or to a charitable organization at the sole judgment of the Board.
Organization Founded, Bylaws Adopted and Officers Elected June 12th, 2009, Revised October 2010
President: Jim Albini
1st VP : Hayden Baldwin
Treasurer/Secretary: Bill Benz
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