HARRY HUGHES, Governor

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(2) AN AUDIT MAY NOT BE REQUIRED MORE THAN ONCE IN
ANY CONSECUTIVE 12-MONTH PERIOD.

(C)  EVERY RECORD OF THE ASSOCIATION KEPT BY THE
ASSOCIATION, OR BY THE DEVELOPER DURING THE DEVELOPER CONTROL
PERIOD, SHALL BE AVAILABLE AT SOME PLACE DESIGNATED BY THE
ASSOCIATION OR DEVELOPER WITHIN THE COUNTY WHERE THE TIME-SHARE
IS LOCATED FOR INSPECTION AND COPYING BY ANY TIME-SHARE OWNER,
THE OWNER'S MORTGAGEE, OR THEIR DULY AUTHORIZED AGENTS OR
ATTORNEYS, DURING NORMAL BUSINESS HOURS, AND AFTER REASONABLE
NOTICE.

(D)  A MEETING OF THE BOARD OF DIRECTORS OR GOVERNING BODY
OF THE ASSOCIATION MAY BE HELD IN CLOSED SESSION ONLY FOR THE
FOLLOWING PURPOSES:

(1)  DISCUSSION OF MATTERS PERTAINING TO EMPLOYEES AND
PERSONNEL;

(2)  PROTECTION OF THE PRIVACY OR REPUTATION OF
INDIVIDUALS IN MATTERS NOT RELATED TO THE COUNCIL OF UNIT OWNERS'
BUSINESS;

(3)  CONSULTATION WITH LEGAL COUNSEL;

(4)  CONSULTATION WITH STAFF PERSONNEL, CONSULTANTS,
ATTORNEYS, OR OTHER PERSONS IN CONNECTION WITH PENDING OR
POTENTIAL LITIGATION;

(5)  INVESTIGATIVE PROCEEDINGS CONCERNING POSSIBLE OR
ACTUAL CRIMINAL MISCONDUCT;

(6)  COMPLYING WITH A SPECIFIC CONSTITUTIONAL,
STATUTORY, OR JUDICIALLY IMPOSED REQUIREMENT PROTECTING
PARTICULAR PROCEEDINGS OR MATTERS FROM PUBLIC DISCLOSURE; OR

(7)  ON AN INDIVIDUALLY RECORDED AFFIRMATIVE VOTE OF
TWO-THIRDS OF THE BOARD MEMBERS PRESENT, FOR SOME OTHER
EXCEPTIONAL REASON SO COMPELLING AS TO OVERRIDE THE GENERAL
PUBLIC POLICY IN FAVOR OF OPEN MEETINGS.

(E)  IF A MEETING IS HELD IN CLOSED SESSION UNDER SUBSECTION
(D) OF THIS SECTION:

(1)  AN ACTION MAY NOT BE TAKEN AND A MATTER MAY NOT
BE DISCUSSED IF IT IS NOT PERMITTED BY SUBSECTION (D) OF THIS
SECTION; AND

(2)  A STATEMENT OF THE TIME, PLACE, AND PURPOSE OF
ANY CLOSED MEETING, THE RECORD OF THE VOTE OF EACH BOARD MEMBER
BY WHICH ANY MEETING WAS CLOSED, AND THE AUTHORITY UNDER THIS
SECTION FOR CLOSING ANY MEETING SHALL BE INCLUDED IN THE MINUTES
OF THE NEXT MEETING OF THE BOARD OF DIRECTORS.