Condominium bylaws and Templates

By | December 8, 2016




Sponsored

Condominium bylaws and Templates

 

When purchasing a condominium, the new owner or co-owner should be aware that condominium bylaws will govern what actions that can be undertaken as a resident owner. Membership dues must be paid to maintain the annual budget of the non-profit corporation, and to avoid default of the member’s agreement. There are no exceptions when it comes to payment, and payments that are past due can result in inspection and cancellation of membership, followed by forced eviction. Abiding by the association rules and following use restrictions are the responsibilities of all members.

pdf-corporate-bylaws-form-template

The association appoints a self-governing body that holds annual meetings of the board of directors, meetings that members may attend in person or by proxy. However, board members consisting of the president, vice-president, treasurer and secretary are not required to be present.

The secretary shall take minutes and the treasurer shall give an accounting of the annual budget. Condominium proposals may be made and voted on if a quorum is present, and special assessments may be raised for discussion. All association members shall be eligible to exercise their voting rights, without exception.

The master deed of the condominium will be kept available for inspection, along with articles of incorporation under state laws. Notices shall be provided for at least 30 days in advance, and remedies for breach of contract will be subject to enforcement. Of course, taxes have to be paid along with property insurance, and it will be the responsibility of the developers to insure that the courtyard, common areas and offices are maintained in a good state of repair.

Condominium owners have the right to dispute decisions made by the property managers after 30 days notice, and conflicting provisions can be objected to. The managers are charged with operating the project in such a way as to be fair, and the unit owners of the self-governing body will indemnify and hold blameless such individuals. When managers fail to administer the rules fairly, or when they fail to manage the property in accordance to the rules, legal resources can be retained to apply remedies and bring into compliance.

Bylaws and Templates

printable-corporate-bylaws-form-template

print-corporate-bylaws-form-template

corporate-bylaws-form-template

corporation-bylaws-corporate-bylaws-form-template




Sponsored