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ARTICLE IV ADMINISTRATION AND MEETINGS Section 1. Association Responsibilities. The Association will have the responsibility of administration in accordance with the Declaration, including approving the annual budget, establishing and collecting quarterly, bi-annual, or yearly assessments and arranging . for the management of the Association. Except as otherwise provided, decisions and resolutions, of the Association shall require approval of a quorum of Owners. Section 2. Place of Meetings. Meetings of the Association shall be held at its principal office or at such other suitable place convenient to the Owners as may be designated by the Board of Directors. Section 3. Annual Meetings. The first annual meeting of the Association shall be held not later than the first anniversary date of the recording of the Declaration. Thereafter, the Members shall meet at least once each year at the time and place specified in the notice of such meeting given pursuant to Section 5 of this Article IV. At such meetings, the Members shall determine the number of directors to be elected, which number shall comply with Section 1 of Article V. The directors shall be elected by ballot of the Members in accordance with the requirements of these Bylaws. The Owners may also transact such other business of the Association as may properly come before them. Section 4. Special Meetings. It shall be the duty of the President to call a special meeting of the Owners as directed by resolution of the Board of Directors or upon a petition signed by a majority of the Owners entitled to cast at least sixty percent ( 60 % ) of the votes in the Association and having been presented to the Secretary of the Association. The notice of any special meeting shall state the time 'and place of such meeting and the complete agenda thereof. No business shall be transacted · at a special meeting except as stated in the notice. The meeting shall be held within 90 days of the receipt of the request. Section 5. Notice of Meetings. It shall be the duty of the Secretary to mail a notice of each annual or special meeting to each Owner of record at least 21 days in advance of any annual or regularly scheduled meeting and at least 7 days in advance of any other meeting. The notice shall state the time, place and complete agenda of the meeting and contain a form for voting by mail, describing in detail each issue to be voted on at such meeting along with space adjacent to such description for the member to cast a vote in favor of or against such issue. Delivery of such notice by hand, or dispatch through the United States mail, to all Owners of record at the address of the respective Lots and to other addressees as any Owner may have designated . to the Secretary, shall be considered notice served. Section 6. Adjourned Meetings. If any meeting of the Members cannot be organized because a quorum did not attend, the Members who are present, either in person or by proxy, may adjourn the meeting to a time not less than forty-eight (48) hours from the time the original meeting was called. Section 7. Quorum. The presence of Owners in person or by proxy, who have the authority to cast in excess of twenty-five percent (25%) of all the votes in the Association, shall be necessary to 5