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d. Reports on status of the Association for the past fiscal year. <br /> e. Election of directors. <br /> f. Unfinished business. <br /> g. New business. <br /> In the case of special meetings items a and b shall be required, and thereafter the <br /> agenda shall consist of the items specified in the notice of meeting. Any of Items c, d, f, <br /> or g may be waived by a vote at any meeting. <br /> ARTICLE VI <br /> BOARD <br /> 1. Number and Qualification. A Board shall govern the affairs of the <br /> Association. The first Board shall consist of the persons designated as directors in the <br /> Articles of incorporation of the Association. Upon the expiration of the terms of the first <br /> directors, the Board shall be composed of not less than three nor more than five <br /> persons. <br /> 2. Terms of Office. The terms of the directors on the first Board shall expire <br /> upon the election of their successors at the first annual meeting of the Members of the <br /> Association. Thereafter, the Members shall elect the directors, and the terms of the <br /> directors shall be one year. All directors shall serve until election of a successor or <br /> upon removal of the director in accordance with the provisions of these Bylaws. A <br /> director appointed to fill a vacancy, or the position of a removed director, shall serve out <br /> the vacated term. <br /> 3. Nominations. Nominations for election of the directors shall be made by <br /> the Board or by a nominating committee appointed by the Board, and may also be <br /> made by Members from the floor at the annual meeting. The nominating committee <br /> shall make as many nominations as it shall in its discretion determine, but not less than <br /> the number of vacancies that are to be filled. Such nominations shall be made from <br /> among the Members. <br /> 4. Powers. The Board shall have the powers necessary for the <br /> administration of the affairs of the Association, and shall exercise for the Association all <br /> powers and authority vested in or delegated to the Association (and not expressly <br /> prohibited or reserved to the Members) by the Articles of Incorporation, the Bylaws, the <br /> Declaration (collectively the "Governing Documents") and the Act. Such powers of the <br /> Board shall include, without limitation, the following: <br /> a. To establish and levy assessments for Common Expenses; <br /> 5 <br />