Charleston Apartment Association

“Due to the organization having members from the rental market and the board members made up of said members there will be from time to time a business relationship between board members outside of the organization that does not interfere with the workings of the organization.”

“Membership is open to any person, firm, partnership, corproation, or other entity interested in the apartment industry, which meets the requirements as set forth within the bylaws under Article IV, Paragraph 4.04 and who shall otherwise qualify. Membership is divided into the following classifications: Owner/Operator Membership Associate Membership Honorary Life Members Direct Members”

“The officers of the corporation shall be chosen by the General Membership. The officers shall be a President, Vice President, Secretary, and Treasurer. No person may hold more than one office at a time. All officers are automatically members of the Board. All officers must have previously served on the Board. Board of Directors:The business affairs and property of the corporation shall be managed and controlled by the Board of Directors. Directors must be residents of the state of South Carolina. Directors shall serve for a period of one, two (2) year term or until their successors are duly elected. No Director may serve more than four (4) consecutive terms on the Executive Board with the exception of the Immediate Past President.”

“All business decisions are determined by a meeting of the Board of Directors, five (5) of the directors present in person and then in office, shall be necessary and sufficient to constitute a quorum for the transaction of business, and the act of a majority of the directors present at any meeting at which there is a quorum, shall be the act of the Board of Directors. This includes the review of Form 990 at the next Board Meeting prior to filing of the tax return.”

“All business decisions are determined by a meeting of the Board of Directors, five (5) of the directors present in person and then in office, shall be necessary and sufficient to constitute a quorum for the transaction of business, and the act of a majority of the directors present at any meeting at which there is a quorum, shall be the act of the Board of Directors. This includes determining the compensation for the Account Executive, the only compensated position within the organization.”

“The governing documents, financial statements and any other documents available for public inspection will be provided upon request.”

“Outdated computer removed from asset list.”

“See Overflow Statement”

“Pursuit of professional advancement of the apartment industry thoroughout the tri-county area of Charleston, SC. Offers members a chance to grow professionally and personally through educational opportunities, legislative participation, networking opportunities and charitable endeavors. Form 990-EZ, Part III, Line 31 - All other Accomplishment Costs of conferences, meetings, educational seminars.”