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~ the common elements and any other expenses incurred. Such records <br />and the vouchers authorizing the payments shall be available for <br />examination by the unit owners at convenient hours of weekdays. <br />3. REPORTS AND AUDITS. The Board of Directors shall prepare <br />or cause to be prepared an annual report of the receipts and <br />expenditures of the Association and a balance sheet and income and <br />expense statement setting forth the financial condition of the <br />Association as at the end of each year. The report shall be <br />prepared according to generally accepted accounting procedures and <br />shall be distributed to all unit owners within ninety (90) days <br />after the end of each fiscal year. At any time, any owner may, at <br />his own expense, cause an audit or inspection to be made of the <br />books and records of the Association. <br />4. ANNUAL REPORT. The Board of Directors shall cause an <br />Annual Report to be filed with the Oregon Secretary of State, <br />pursuant to the provisions of ORS 100.250. <br />ARTICLE XIII <br />COMPLIANCE <br />These Bylaws are intended to comply with the provisions of the <br />Oregon Condominium Act, which are incorporated herein, and to <br />~ supplement the provision in the Condominium Declaration. In case <br />any of the provisions hereof conflict with the provisions of said <br />statutes, the statutory provisions shall apply. In case of any <br />conflict between the provisions hereof and the Declaration, the <br />provisions in the Declaration shall apply. <br />ARTICLE XIV <br />INDEMNIFICATION OF DIRECTORS OFFICERS EMPLOYEES AND AGENTS <br />The Association shall indemnify any Director, officer, <br />employee or agent who was or is a party, or is threatened to be <br />~ade a party, to any threatened, pending or completed action, suit <br />~~ or proceeding, whether civil, criminal, administrative or <br />investigative (other than an action by the Association) by reason <br />of the fact that he is or was a Director, officer, employee or <br />agent of the Association or is or was serving at the request of the <br />Association as a Director, officer, employee or agent of another <br />corporation, partnership, joint adventures, trust or other <br />enterprise, against expenses (including attorneys' fees), <br />judgments, fines and amounts paid in settlement actually and <br />reasonably incurred•by said person in connection with such suit, <br />action or proceeding, if he acted in good faith and in a manner he <br />reasonably believed to be in, or not opposed to, the best interest <br />~ BYLAWS OF COURTHOUSE SQUARE CONDOMINIUM <br />PAGE - 21 <br />