Resolution 10.0 - Compensation
10.0 Title: Officer Compensation:
Whereas, the Cordova Club Owners Association is a “not for profit” organization and,
Whereas, neither the Covenants nor the By-laws make any provision for Officer compensation,
Therefore, it is agreed that the Cordova Club Owners Association Officers, as defined in the By-laws, will serve without compensation as Officers,
And, it is further agreed that the Cordova Club Owners Association Officers cannot hold any compensated position. Nothing herein contained, however, shall prohibit the Association, in the discretion of the Board of Directors, from reimbursing any Officer for money advanced on behalf of or for the benefit of the Association.
Dated November 16, 2004