Condo Association Bylaws
Condo Association Bylaws
Article I: Name and Purpose
Section 1. Name: The name of this association shall be [Your Company Name], hereinafter referred to as the "Association."
Section 2. Purpose: The purpose of the Association is to govern the operation, management, and maintenance of the condominium property known as [Condo Property Name]. The Association shall ensure the preservation, enhancement, and enjoyment of the common elements and facilities for the benefit of all unit owners.
Article II: Definitions
Section 1. Definitions:
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"Board of Directors" shall refer to the elected governing body of the Association.
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"Common Elements" shall refer to all portions of the condominium property that are not included within the boundaries of the individual units.
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"Unit" shall refer to a single, separately owned portion of the condominium property, designated for residential or commercial use.
Article III: Membership
Section 1. Eligibility: All owners of units within the condominium property shall be members of the Association.
Section 2. Rights and Responsibilities: Members shall have the right to participate in Association meetings, vote on Association matters, and access common elements. Members shall also be responsible for adhering to Association rules and regulations, paying assessments and fees, and maintaining their units in accordance with the Association's standards.
Article IV: Board of Directors
Section 1. Composition: The Board of Directors shall consist of [Number] members, elected by the members of the Association.
Section 2. Powers and Duties: The Board shall have the power to manage the affairs of the Association, including but not limited to, the enforcement of Association rules, the collection of assessments, and the maintenance of common elements.
Article V: Meetings
Section 1. Annual Meeting: An annual meeting of the members shall be held each year to elect members of the Board and conduct other Association business.
Section 2. Special Meetings: Special meetings may be called by the Board or upon the written request of [Number]% of the members.
Article VI: Assessments and Fees
Section 1. Assessments: The Board shall levy assessments on all members to fund the operation, maintenance, and improvement of the condominium property.
Section 2. Collection: Assessments shall be due [Frequency] and shall be collected in accordance with the Association's collection policy.
Article VII: Use of Common Elements
Section 1. Restrictions: The common elements shall be used only for their intended purposes and in accordance with the Association's rules and regulations.
Section 2. Maintenance: The Association shall be responsible for the maintenance, repair, and replacement of the common elements.
Article VIII: Amendments
Section 1. Amendment Procedure: These Bylaws may be amended by a vote of [Number]% of the members at a meeting called for that purpose.
Section 2. Notice: Notice of any proposed amendment shall be provided to all members at least [Number] days prior to the meeting at which the amendment will be considered.
Article IX: Dissolution
Section 1. Dissolution Procedure: In the event of the dissolution of the Association, any assets remaining after the satisfaction of all liabilities shall be distributed to the members in proportion to their ownership interests in the common elements.
Section 2. Dispute Resolution: Any disputes arising under these Bylaws shall be resolved through mediation or arbitration, as determined by the Board.
Article X: Miscellaneous
Section 1. Severability: If any provision of these Bylaws is held to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.
Section 2. Governing Law: These Bylaws shall be governed by the laws of the state in which the condominium property is located.
Section 3. Effective Date: These Bylaws shall become effective upon adoption by a vote of [Number]% of the members of the Association.
Section 4. Entire Agreement: These Bylaws constitute the entire agreement of the parties with respect to the governance of the Association and supersede all prior agreements and understandings, whether written or oral, relating to the same.
