|Leisure World Community Corporation|
|Thursday, 24 July 2008 10:40|
In 1980, the Community Advisory Council decided to form a legal entity directly responsible to the community. The Mutuals, acting together, obtained a Maryland charter for the Leisure World Community Corporation, a not-for-profit, non-stock Membership Corporation, whose members comprised all the Mutuals. The corporation's board of directors was called the Community Council, primarily for reasons of tradition. In 2006, the name “Community Council” was changed to “Board of Directors.”
The charter and the bylaws of the Leisure World Community Corporation provide that each member is assigned a number of votes equal to the number of housing units it contains and is ordinarily represented on the Board of Directors by a Director and one or more Alternate Directors. However, a large Mutual is allowed more than one Director, each of whom casts a fraction of the total voting power of the member. Directors have no definite term of office; they are chosen by, and serve at the pleasure of, their respective Mutuals. Each January, however, the Directors elect officers for the Board and the corporation who, with other Directors selected by the Board, form an Executive Committee.
The Executive Committee prepares the work of the Board, but it has not been delegated any significant powers to act in behalf of the Board. The Board is also assisted by 16 standing advisory committees: the Landscape, Audit, Budget and Finance, Community Planning, Education and Recreation, Emergency Preparedness, Energy, Golf and Greens, Health, Insurance, Government Affairs, Physical Properties, Restaurant, Security and Transportation, Strategic Planning, and Tennis Advisory Committees. In addition, the Board appoints special committees to investigate and advise it on specific problems. The work of the standing and special committees is invaluable in the operation of the community organization, but none of the committees is authorized to spend money, to commit the Board, or to take any other affirmative action without an explicit authorization from the Board. As is customary, the lawyers who drafted the Articles of Incorporation gave the Leisure World Community Corporation extensive powers, many of which it probably will never choose to exercise.
|Last Updated on Monday, 18 March 2013 08:47|