PROSPECTOR PARKHOMEOWNERS ASSOCIATION
BY-LAWS
Article 1
Office
1.1 Office
The principal office shall be located in Park City, Utah.
Article II
Meeting of Members
2.1 Annual Meeting
a. The annual meeting of members shall be held at 7:00 p.m. on the 1st Tuesday of May each year at the location chosen by the Board of Trustees.
b. At the meeting, the members shall elect Trustees and 3 members of a Construction Committee for a one-year term.
c. Only members of the Association shall be elected as Trustees.
2.2 Special Meetings
Special meetings may be called by a majority of the Board or one-third of the
membership.
2.3 Notice of Meetings
Members shall be given 10 days prior written notice of all meetings.
2.4 Presiding Officer
The president shall be the presiding officer.
2.5 Voting Requirements
a. A quorum must be present which shall be 15% of the membership.
b. Voting is permitted in person or by proxy.
c. Each member shall have one vote.
d. Joint tenants shall have fractional shares and votes.
2.6 Registered Members
Membership lists shall be compiled 30 days before the annual meeting of
members.
2.7 Quorum
A quorum is defined as 15% of the membership.
2.8 Waiver of Irregularities
Article III
Board of Trustees
3.1 Responsibilities
a. Manage the Association
a. May hire out the management to manage and set policies for the Association.
3.2 Vacancies
Filled by remaining Trustees.
3.3 Regular Meetings
a. Annual.
b. As determined by the Board of Trustees.
3.4 Special Meetings
Whenever called by the president of vice-president.
3.5 Quorum
A quorum is the majority of the Trustees.
3.6 Committees
Committees may be set up to report back to the Board of Trustees.
3.7 Compensation
Trustees shall not receive compensation.
3.8 Additional Facilities
The Board shall have authority to provide such facilities.
Article IV
Officers
4.1 Selection of Officers
a. The Trustees shall select or appoint the officers of the Association.
a. The officers must be members of the Board of Trustees.
4.2 Officers
The officers shall consist of a president, vice-president, secretary and treasurer.
4.3 Removal
All officers and agents shall be subject to removal by a majority vote of the quorum of
membership in attendance at regular or special meetings or by a majority vote of the
Trustees.
4.4 President
The president shall be the chief executive officer of the Association and shall exercise
general supervision over its property and affairs.
4.5 Vice-President
4.6 Secretary
The secretary shall keep minutes of the Association.
4.7 Treasurer
The treasurer shall have custody and control over the funds of the Association.
Article V
Seal
5.1 The Association shall not be required to have an official seal.
Article VI
Membership
6.1 Eligibility
Any person who is the owner of record, according to the official records of Summit
County, of a lot or home in Prospector Park Subdivision, shall be eligible to be a
member in the Association.
6.2 Membership Certificates
a. No shares of stock evidencing membership or interest in the corporation shall be
required.
a. The membership list shall be compiled by the secretary of the corporation as provided
herein.
6.3 Application
Any homeowner interested in becoming a member of the Association, shall become a
member by meeting the above eligibility requirement, paying the annual dues and submitting
to the secretary a written statement containing his, her or its name and stating the desire to be
a member of the Association.
Article VII
Dividends
7.1 There shall be no dividends paid by the Association
Article VIII
Annual Statement
8.1 The Board of Trustees shall present an annual statement at the annual meeting.
Article IX
Fiscal Year
9.1 The fiscal year shall be June 1 – May 31.
Article X
Rules
1. Rules
The Board of Trustees shall have the power to adopt and establish by resolution such
Managing and operational rules as the Board of Trustees determines necessary.
Article XI
Amendments
1. These by-laws may be altered or repealed by the affirmative of a majority of the members
at any regular meeting or special meeting duly called for that purpose.
Article XII
Construction Committee
1. The Association, through its president, shall coordinate with the Construction Committee as
provided in the Declaration of Protective Covenants as recorded with the Summit County
Recorder.
Article XIII
Dues
1. Dues
Dues of members of the Association shall be set from time to time by a vote of the
membership of the Association at any regular or special meeting duly called for such
purpose.
1. Voting
Only members that have paid their dues shall have a vote at any meetings of the
Association.
BY-LAWS
Article 1
Office
1.1 Office
The principal office shall be located in Park City, Utah.
Article II
Meeting of Members
2.1 Annual Meeting
a. The annual meeting of members shall be held at 7:00 p.m. on the 1st Tuesday of May each year at the location chosen by the Board of Trustees.
b. At the meeting, the members shall elect Trustees and 3 members of a Construction Committee for a one-year term.
c. Only members of the Association shall be elected as Trustees.
2.2 Special Meetings
Special meetings may be called by a majority of the Board or one-third of the
membership.
2.3 Notice of Meetings
Members shall be given 10 days prior written notice of all meetings.
2.4 Presiding Officer
The president shall be the presiding officer.
2.5 Voting Requirements
a. A quorum must be present which shall be 15% of the membership.
b. Voting is permitted in person or by proxy.
c. Each member shall have one vote.
d. Joint tenants shall have fractional shares and votes.
2.6 Registered Members
Membership lists shall be compiled 30 days before the annual meeting of
members.
2.7 Quorum
A quorum is defined as 15% of the membership.
2.8 Waiver of Irregularities
Article III
Board of Trustees
3.1 Responsibilities
a. Manage the Association
a. May hire out the management to manage and set policies for the Association.
3.2 Vacancies
Filled by remaining Trustees.
3.3 Regular Meetings
a. Annual.
b. As determined by the Board of Trustees.
3.4 Special Meetings
Whenever called by the president of vice-president.
3.5 Quorum
A quorum is the majority of the Trustees.
3.6 Committees
Committees may be set up to report back to the Board of Trustees.
3.7 Compensation
Trustees shall not receive compensation.
3.8 Additional Facilities
The Board shall have authority to provide such facilities.
Article IV
Officers
4.1 Selection of Officers
a. The Trustees shall select or appoint the officers of the Association.
a. The officers must be members of the Board of Trustees.
4.2 Officers
The officers shall consist of a president, vice-president, secretary and treasurer.
4.3 Removal
All officers and agents shall be subject to removal by a majority vote of the quorum of
membership in attendance at regular or special meetings or by a majority vote of the
Trustees.
4.4 President
The president shall be the chief executive officer of the Association and shall exercise
general supervision over its property and affairs.
4.5 Vice-President
4.6 Secretary
The secretary shall keep minutes of the Association.
4.7 Treasurer
The treasurer shall have custody and control over the funds of the Association.
Article V
Seal
5.1 The Association shall not be required to have an official seal.
Article VI
Membership
6.1 Eligibility
Any person who is the owner of record, according to the official records of Summit
County, of a lot or home in Prospector Park Subdivision, shall be eligible to be a
member in the Association.
6.2 Membership Certificates
a. No shares of stock evidencing membership or interest in the corporation shall be
required.
a. The membership list shall be compiled by the secretary of the corporation as provided
herein.
6.3 Application
Any homeowner interested in becoming a member of the Association, shall become a
member by meeting the above eligibility requirement, paying the annual dues and submitting
to the secretary a written statement containing his, her or its name and stating the desire to be
a member of the Association.
Article VII
Dividends
7.1 There shall be no dividends paid by the Association
Article VIII
Annual Statement
8.1 The Board of Trustees shall present an annual statement at the annual meeting.
Article IX
Fiscal Year
9.1 The fiscal year shall be June 1 – May 31.
Article X
Rules
1. Rules
The Board of Trustees shall have the power to adopt and establish by resolution such
Managing and operational rules as the Board of Trustees determines necessary.
Article XI
Amendments
1. These by-laws may be altered or repealed by the affirmative of a majority of the members
at any regular meeting or special meeting duly called for that purpose.
Article XII
Construction Committee
1. The Association, through its president, shall coordinate with the Construction Committee as
provided in the Declaration of Protective Covenants as recorded with the Summit County
Recorder.
Article XIII
Dues
1. Dues
Dues of members of the Association shall be set from time to time by a vote of the
membership of the Association at any regular or special meeting duly called for such
purpose.
1. Voting
Only members that have paid their dues shall have a vote at any meetings of the
Association.
