What are the Governing Documents of an Association?
Property owners’ associations derive their basic legal authority for their existence, activities, and actions from state statutes (laws) and certain legal documents: Articles of Incorporation Declaration of Covenants, Conditions, and Restrictions By-Laws Rules & Regulations
What are Bylaws?
The Declaration forms the constitutional foundation of the association; Bylaws define the laws and operating procedures of the association. Bylaws detail the framework for governing the association that is authorized in the Declaration. They address the association’s structure, the board, the officers, the definition of a quorum, the ability to enter into contracts, etc. Bylaws […]
WHAT are the criteria for the Board to meet without an official meeting?
Action by Directors Without a Meeting. Any action required or permitted to be taken at a meeting of the Board may be taken: n3.12.1 without a meeting if a written consent setting forth the action to be taken is signed by every director. Any such written consent shall be inserted in the minute book as […]
HOW shall the Association funds be protected?
All funds of the Association shall be kept in accounts or deposits that are insured by agencies· of the United States. The funds of the Association shall not be commingled with the funds of any other association or with the funds of any manager of the Association. The reserve funds may be combined in one […]
WHO may attend Board meetings?
Any Owner or voting representative may attend any meeting of the Board, but shall not be entitled to participate except with 1he consent of the Board. The Board may, however, go into private, executive session to consider the employment or dismissal of the managing agent or other persons employed by the Association, or to hear […]
WHAT types of records shall be kept by the Association?
The Board shall cause to be kept complete detailed, and accurate books and records of the receipts and expenditures of the Association, in a form that complies with generally accepted accounting principles. The books and records, authorizations for payment of expenditures, and all contracts, documents, papers, and other records of the Association shall be available […]
WHAT are the principal officers of the Board of the Esplanade Owners Association?
The principal officers of the Association shall be a president, a vice president, a secretary, and a treasurer, all of whom shall be elected by and from the Board. The directors may appoint from the Board such other officers as in their judgment may be necessary or desirable. Two or more offices may be held […]
WHEN shall the officers of the Board be elected?
The officers of the Association shall be elected annually by the Board at the first Board meeting after the annual meeting of the Association. They shall hold office at the pleasure of the Board. [Bylaws, Article 4, Section 4.2]
HOW can Board officers be removed?
At any regular meeting of the Board or at any special meeting of the Board called for such purpose, upon an affirmative vote of a majority of the members of the Board, any officer may be removed, either with or without cause. A successor to the removed officer may be elected at any such meeting. […]
WHAT are the duties of the Board President?
The president shall be the chief executive officer of the Association. He shall preside at all meetings of the Association and of the Board and shall have all powers and duties usually vested in the office of the President. [Bylaws, Article 4, Section 4.4]