The Board of Directors shall have no power to render the Club liable for any debt exceeding the amount of money which shall, at the time of contracting such debt, be in the treasury and not needed for the discharge of prior unfunded debts or liabilities of the Club. A decision of the Board of Directors may be overruled only by a vote of two-thirds of the members present at a meeting called for that purpose on two weeks notice. At such a meeting each member of the Board of Directors shall have one vote on the issue in question. The Board of Directors shall plan to meet not less frequently than once a month and six members shall constitute a quorum. The President, Vice-President, Secretary, Treasurer, and Boatyard Captain shall take office immediately upon their election at the annual meeting and shall serve for a term of one year and until successors are duly elected.
Officers are eligible for re-election.
Vacancies in any office may be filled for the balance of the term by the Board of Directors. Compensation No member of the Board of Directors shall receive any compensation for services as a Director. No officer, agent or employee of the club shall receive any compensation for services unless authorized by the affirmative vote of a majority of those present and voting at any regular or special meeting of the Board of Directors. Shall sign, as President, all contracts and instruments, which have been first approved by the Board of Directors. Shall call Directors together whenever he or she deems it necessary, and shall have, subject to the advice of the Directors, direction of the affairs of the Corporation and shall discharge generally such other duties as maybe required by these by-laws or by the Board.