Constitution and Bylaws of the Association

(as adopted June 20, 1990)

Preamble

The purposes of this corporation shall be to hold certain property known as the Point of Pines Beach as described in a certain deed recorded with the Suffolk County Registry of Deeds, Book Number 6505, Page Number 356; to establish and maintain a place for holding meetings; to encourage friendly feeling among it’s members; to promote the civic and social well being of those owning and interested in real estate in the Point of Pines section of Revere; to promote and encourage civic activities, especially in respect to the control and maintenance of the community beach, and in connection therewith to acquire, hold, use, encumber, and dispose of any real and personal property and any rights and privileges which the corporation may think necessary and convenient for it’s purposes; and to do any and all things permissible under Chapter 180 of the General Laws.

Each person owning real estate in the Point of Pines section of Revere and residing
therein is eligible to purchase one bond. The issuance of new bonds for sale may be suspended by a three-fourths vote of the Board of Directors.

A member is a person residing in the Point of Pines who pays the required annual dues, fixed at the annual meeting. The Board of Directors shall have the authority to waive or reduce the annual dues in special circumstances as requested by the Treasurer

(Added 5/31/2011) The membership year is defined from June 1 to May 31.

Section 1. The officers of this corporation, elected from the membership, shall be a President, a First Vice-President, a Second Vice-President, a Recording Secretary, a Corresponding Secretary and a Treasurer. Their
terms of office shall be for two years.Section 2. The President and Recording Secretary shall be members of all committees.

Section 3. The Recording Secretary shall keep a record of all proceedings at both annual and special meetings of the corporation and all committee and Board of Directors meetings.

Section 4. The Treasurer shall be the custodian of all funds of the corporation and may be required to give bond in such amount as required by the officers and Board of Directors.

(Added 5/31/2011)
Section 8. Any elected officer and or member of the Board of Directors that miss three (3) meetings in a calendar year may be subject to dismissal from his or her office or from the Board by a majority vote of the Board.

There shall be elected from the membership of the corporation seven Directors, distinct from the officers, who shall meet with the officers of the corporation and the Board of Advisors to formulate plans and decide all purposes and procedures of the corporation. These seven members together with the officers of the corporation and the Board of Advisors shall constitute a Board of Directors. A quorum of the Board of Directors shall consist of five. The term of office of the Directors shall be two years concurrent with the officers’ term.

All members who are past Presidents of the corporation shall constitute the Board of Advisors and be ex officio members of the Board of Directors.

Section 1a. The annual meeting of the membership shall be held in the spring of each year on a date set by the Board of Directors.

Section 1b. In odd numbered years the election of officers and Directors shall be held at the annual meeting.

Section 2. Special meetings may be called by the Board of Directors at such times as are thought advisable.

Section 3. A quorum at a meeting of the membership shall consist of at least 10% of the membership. Each member, as defined in Article II-B, is entitled to one vote to be cast in person, by
representative or by proxy – such proxy, given to the Recording Secretary, signed by the member, and bearing date not more then six months before the meeting, to be invalid after the final adjournment of such meeting. A majority shall consist of more than half of the sum of the number of members present and voting and the number of proxy votes.

The corporation shall have a common seal.

Section 1. All bonds of the corporation shall be signed by the President and the Treasurer and be imprinted with the seal of the corporation, be recorded in it’s books, and be issued by the Treasurer;
a new bond shall be issued in place of another on the surrender thereof to the Treasurer with a transfer in writing specifying to whom the bond is to be transferred.Section 2. In case of loss or destruction of a bond a duplicate bond may be issued upon delivery to the Treasurer of an affidavit of the loss or destruction and security against any loss subsequent upon the issue of a duplicate, the affidavit and security to be satisfactory to the
Treasurer.

Section 3a. Any bondholder, including the heirs, assignees, executors, or administrators of a deceased bondholder, desiring to sell or transfer such bond owned by him or them shall first offer it to the corporation at face value. He shall present it to the Treasurer of the corporation. He shall include notification in writing of his desire to sell or transfer, giving the name of the
proposed purchaser or transferee. The Board of Directors shall within thirty days thereafter approve the sale or transfer to the prospective owner, if he meets the qualifications for bondholders set forth in Article II-A, or else return the bond to the presenter. No bonds shall be sold or transferred on the books of the corporation until
these provisions have been complied with.

Section 3b. Any bond owned by a bondholder who has not fulfilled the eligibility in Article II-A for a period of one calendar year and has not transferred that bond in accordance with Section 3a shall become null and void.

Section 4. Special meetings of the bondholders may be called by the Board of Directors. A quorum at such a meeting
shall consist of at least 25% of the bondholders.

Section 5. (Amended January 26, 1950, by adding the following.) In the event of dissolution of the corporation, each bondholder shall be
entitled after payment of all debts and expenses of the corporation to a proportionate share of the remaining assets. Additionally, in such an event, all dues payers of the current year shall be entitled to a proportionate share of all funds remaining from dues collected in that year less expenditures of that year.

Section 6. There shall be no disposal of the Point of Pines Beach as described in the deed referenced in the preamble without a majority vote of the bondholders present at a meeting of the bondholders called for that purpose by the Board of Directors.

The officers and Director members of the Board of Directors shall be elected biennially by ballot at the annual meeting of the membership in the spring of each odd numbered year.

All committees shall be appointed by the President unless other provision for their selection shall be made on motion approved by two thirds of the members present and voting.

All expenditures or appropriations of moneys must be ordered and approved by the Board of Directors. Payments shall be made with all checks signed by the President and the Treasurer

Roberts Rules of Order shall be the authority on all questions of parliamentary law and proceedings.

1. Meeting called to order2. Reading of minutes of previous meeting.

3. Communications

4. Reports.

5. Unfinished business

6. New business

7. Addresses and entertainment

8. Adjournment

All members shall be notified in writing of the time, place and purpose of a meeting of the membership at least seven days in advance of said meeting; all bondholders shall be similarly notified in the case of a meeting of the bondholders.

Any amendment to these bylaws may be proposed at any meeting of the membership, to be adopted by a majority vote at the following meeting of the membership if in the meantime the proposed amendment receives the approval of the Board of Directors.