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The Directors shall have the right to take any action in the <br />absence of a neeting which they could take at a meeting by obtain­ <br />ing the written approval of all the Directors. Any action so <br />approved shall have the same effect as though taken at a meeting <br />of the Directors. <br />The Board of Directors may meet at any time, called by and at such <br />place as may be designated by the President, or as may be requested <br />in writing by at least two Directors, served or mailed to all of the <br />Directors. <br />A quorum of the Directors shall consist of a majority. No business <br />shall be transacted by the Boara without the presence of a quorum. <br />ARTICLE III <br />MEMBERSHIP AND MEETING OF MEMBERS <br />The membership of this Association shall be composed of all of <br />the ovmers of property within The Nursery, Hennepin County, <br />Minnesota. In the event that property is being purchased under <br />a contract for deed, the contract purchaser and not the tee owner <br />shall be deemed to be the owner for the purpose of qualification <br />for membership in this Association. <br />The Annual Meeting of the members shall be held on the second <br />Monday in September of each year at 8:00 P.M. or at such other <br />time and place within the month of Septeiixber as the Board of <br />Directors shall deteimine. <br />- 2 -