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Section 1. Any action required or permitted to be taken at a meeting of the Members of the Association or of the Board of Directors or any Committee thereof may be taken without a meeting if a consent in writing, setting forth the action so taken, shall be signed by all of the Members entitled to vote with respect to the subject matter thereof, or by all of the members of the Board or of such committee, as the case may be, and such written consent is filed with the Executive Vice President.

Section 2. If all the Directors shall severally or collectively consent in writing to any action to be taken by the Association, such action shall be as valid a corporate action as though it had been authorized at a meeting of the Board of Directors.

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