LSIA Bylaws amended (10/28/10) - The Bylaws of the Lake Sarah Improvement Association (L.S.I.A.) were amended by unanimous vote of members present at the October 28, 2010 fall membership meeting. The minor changes to the Bylaws (Article VII, sub. I, C, 3) were designed to facilitate the Treasurers preparation of the association budget by changing the budget to calendar year to better align with IRS filings, and to move presentation of the proposed budget for membership approval at the Spring meeting rather than the Annual (July) meeting. The latter change was intended to make the proposed budget discussion more timely and to provide for a more orderly transition as Officer's terms expire LSIA Bylaws Amended (7/27/08) - The Bylaws of the Lake Sarah Improvement Association (L.S.I.A.) were amended by unanimous vote of members present at the July 27, 2008 summer membership meeting. Changes to the Bylaws include expanding the number of available seats on the Board of Directors, changing the meeting designated as the "Annual meeting" to the meeting held in July each year instead of April, reducing the quorum requirement for member approval or elections, and changing the organizations year for purposes of dues payment and the discounted group residential trash program to a calendar year. Most important results of these changes will be the ability of the board to be expanded to allow more interested members to serve on the Board of Directors and moving the annual board and officer elections to the July meeting. The updated bylaws can be viewed via the link above. File is password protected on changing or copying text and requires Adobe reader to view. To get Adobe Reader free click here
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The Lake Sarah Improvement Association (L.S.I.A), P.O. Box 25, Loretto, MN 55357-0025 is a tax exempt organization under section 501(c)(3) of the Internal Revenue Code. L.S.I.A. is also classified as a public charity under sections 509(a)(1) and 170(b)(1)(A)(vi) of the Internal Revenue Code. Contributions to L.S.I.A. are deductible under section 170 of the Code and L.S.I.A. is qualified to receive tax deductible bequests, devises, transfers or gifts under section 2055, 2106 or 2522 of the Internal Revenue Code. A copy of the most recent IRS opinion letteris available by written request.