VI. Officers

§1. Election.

The officers of the Corporation shall consist of a president, a vice president, a secretary, and a treasurer who shall be members of the Board of Directors. The officers shall be elected by the Board of Directors at its first meeting immediately following the annual election of directors of the Corporation, and they shall serve for one year or until their successors are elected. Any vacancies in such offices resulting from death, resignation, removal, or disqualification, shall be filled by the Board.

Any officer who is a member of the Board of Directors may be removed as an officer by a vote of two-thirds of all the members of the Board, after due notice and an opportunity to be heard at a Board meeting.

§2. President.

The president shall preside at all meetings of the Corporation and of the Board unless with the consent of a majority of the Board he or she designates another to do so. He or she shall sign all Mutual Ownership Contracts and other instruments transferring an interest in real property on behalf of the Corporation, except as otherwise provided by the Board. He or she shall perform all other duties usually incident to the office of the president, and such others as may be assigned by the Board.

§3. Vice President.

The vice president shall act for the president in the event of the latter's absence or inability to act, and shall perform all other duties assigned by the Board or the president.

§4. Secretary.

The secretary shall maintain and have custody of the minutes of the meetings of the membership and of the Board of Directors, shall receive all petitions of members relating to membership meetings, and shall give notice to all members of membership meetings. He or she shall countersign all contracts signed by the president and shall supervise maintenance of the membership roll of the Corporation. The Board shall have power to elect one of its members to act as secretary during any temporary absence or disability of the secretary.

§5. Treasurer.

The treasurer shall be ex officio Chair of the finance committee and shall review the financial records and statements of the Corporation. It shall be the duty of the treasurer to closely study the financial affairs of the Corporation and to make such recommendations to the Board of Directors and to the membership as he or she may deem to be necessary or desirable.