Book: 5327 Page: 3990
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The Class B Member shall be entitled to three (3) votes for each Unit owned, and shall be entitled to appoint a majority of the members of the Board of Directors during the Class B Control Period, as provided in the By-Laws.
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The Class B membership shall terminate and become converted to Class A
membership upon the earlier of:
(i) Three months after 90 percent of the parcels in all phases of the community that will ultimately be operated by the Association have been conv<:yed to Members other than the Declarant. For purposes of this section the tenn Members other than the Declarant shall not include builders, contractors or others who purchase a Lot for the purpose of constructing improvements thereon for resale ; or
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(ii) when, in its discretion, the Declarant so deteunines.
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8.03 The number of votes in the Association shall be determined as set forth in the preceding Section 8.02. The class A Members shall be entitled to one (1) vote for each Lot or Dwelling Unit owned and the Class B Member shall be entitled to three (3} votes for each Lot or Dwelling Unit owned.
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(a)
8.04 The Class B Control Period terminates simultaneously with the tennination of the Class B membership as provided in Section 8.02 above . .
8.04
Association voting shall be conducted as follows:
(I) The presence at a meeting of Members and Voting Members entitled to cast thirty percent shall constitute a quorum, except as otherwise provided in the Articles, Declaration or these By-Laws. If, however, such Quorum shall not be present or represented at a duly called meeting, the Board may call a second meeting at which the quorum required for the first meeting shall be reduced by fifty percent (50%). The notice for the first meeting may include notice for the
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