[§514B-125]  Board meetings.  (a)  All meetings of the
board, other than executive sessions, shall be open to all members of the
association, and association members who are not on the board may participate
in any deliberation or discussion, other than executive sessions, unless a
majority of a quorum of the board votes otherwise.



(b)  The board, with the approval of a majority
of a quorum of its members, may adjourn a meeting and reconvene in executive
session to discuss and vote upon matters:



(1)  Concerning personnel;



(2)  Concerning litigation in which the association is
or may become involved;



(3)  Necessary to protect the attorney-client
privilege of the association; or



(4)  Necessary to protect the interests of the
association while negotiating contracts, leases, and other commercial
transactions.



The general nature of any business to be considered
in executive session shall first be announced in open session.



(c)  All board meetings shall be conducted in
accordance with the most recent
edition of Robert's Rules of Order Newly Revised.  Unless otherwise provided in the
declaration or bylaws, a board may permit any meeting to be conducted by any
means of communication through which all directors participating may
simultaneously hear each other during the meeting.  A director participating in
a meeting by this means is deemed to be present in person at the meeting.  If permitted by the board, any
unit owner may participate in a meeting conducted by a means of communication
through which all participants may simultaneously hear each other during the
meeting, provided that the board may require that the unit owner pay for the
costs associated with the participation.



(d)  The board shall meet at least once a
year.  Notice of all board meetings shall be posted by the managing agent,
resident manager, or a member of the board, in prominent locations within the
project seventy-two hours prior to the meeting or simultaneously with notice to
the board.



(e)  A director shall not vote by proxy at
board meetings.



(f)  A director shall not vote at any board
meeting on any issue in which the director has a conflict of interest.  A
director who has a conflict of interest on any issue before the board shall
disclose the nature of the conflict of interest prior to a vote on that issue
at the board meeting, and the minutes of the meeting shall record the fact that
a disclosure was made.



"Conflict of interest", as used in
this subsection, means an issue in which a director has a direct personal or
pecuniary interest not common to other members of the association. [L 2004, c
164, pt of §2]