Margate Homeowners Association of NJ, Inc. A New Jersey Non-Profit Corporation.
Bylaws – January 2022.
- This organization shall be known as: The Margate Homeowners Association of N.J. Inc, a non-Profit NJ Corp. founded in Margate City, NJ on May 28th of 2018
- The Primary purpose of this organization is to more fully represent all the owners and renters of residential real estate in the City of Margate City, NJ. It will also serve its members by providing a forum for service and public action.
- Membership in this organization will be defined by owning or renting of residential real estate within the boundaries of Margate City, Atlantic County, NJ. Membership will be for one calendar year. Cost of Membership to be decided by the Board of Directors and it will be paid to the Treasurer.
- Meetings will be held for the General Membership twice a year as designated by the Board of Directors. A special meeting may be scheduled on an as needed basis if a matter arises that could affect the Members of our organization.
- The Board of Directors will consist of five persons. The positions will be a President, a (1st) Vice President, a 2nd Vice President, a Secretary, and a Treasurer all to be chosen by the members of the Board by consensus.
- Decisions governing the organization will be made by a consensus or majority vote of the Board and the execution of these decisions will be decided by the President of the Board of Directors. In the event of a tie vote for a resolution, the resolution shall not pass.
- All Bylaws can be changed by a decision of the Board of Directors by Consensus vote. Bylaws must only be changed by a vote of ALL five members of the Board, not just a quorum. These votes can be done in person, online through email, text or by phone or video conference.
- A Quorum of at least three members of the Board of Directors will be required for any official business to transpire (excluding changing, adding, or subtracting any of these bylaws.)
- Board vacancies are to be filled by nomination from sitting members of the Board when they happen. Any member can submit a possible candidate for the other members to decide on by vote.
- A new Board of Directors will be elected by the full membership of the organization every three years.
- Terms of Board Members shall be for not less than 2 years and not more than 3 years in their respective positions. Members’ positions shall be renewable one time only by nomination and vote of Board Membership. Board members shall not hold a specific position for more than two terms.
- All monies of any kind whether dues, donations, bequests, or others will be held within a special escrow account set up by the Board of Directors and administered by the Treasurer and the 2nd Vice President of the Board. The books & or ledgers will be made available within 3 business days for all members to examine upon request to the Board.
- Any payments whether to pay bills, salaries, or wages and for the purchase of any other materials, rents, or leases that exceed $200.00, or monies for the purchase of any real property must be approved of by a vote of the entire Board of Directors. Any purchases above $10,000 must be approved of by a majority vote of the full membership of the MHA to be submitted to it in writing within 30 days of the request for approval.
- Trustees: The board may appoint, after a unanimous vote of the Executive Board, up to 5 Trustees and 3 Advisors. Trustees and Advisors may not vote. Trustees and Advisors will be able to participate in all meetings unless the Board calls for an Executive meeting. Trustees and Advisors will not be able to attend Executive meetings.
Two additional Trustee or Advisory positions shall be filled by the immediate past President and the immediate past 1st Vice President.
Term of the Trustees and Advisors shall be one year and shall be renewable upon unanimous vote of the Executive Board.