Paradise Valley Office Suites

What Paradise Valley Office Suites's governing documents say

This document is the Bylaws of the Paradise Valley Office Suites Unit Owners Association, a condominium of commercial office suites in Phoenix, AZ. The Bylaws govern how the Association is run — including meetings, board of directors, officers, voting, and finances. They apply to all unit owners in the condominium.

• Board of Directors & Officers: The board has 1 to 5 directors (minimum 1 during declarant control, then 3–5, always an odd number). Directors serve 2-year terms and are elected by members after declarant control ends. Officers (president, vice president, secretary, treasurer) are appointed by the declarant during control, then elected by the board annually. The president must be a director; no director receives compensation for board service.
• Meetings of Members: An annual meeting is held each year. Special meetings may be called by the president, a majority of the board, or owners holding at least 25% of votes. Written notice must be given 10 to 60 days before any meeting. Quorum is more than 50% of total authorized votes, present in person or by proxy.
• Voting & Proxies: Each unit has one vote unless otherwise specified in the declaration. Proxies are allowed, expire after one year unless stated otherwise, and can be revoked. Action by written ballot or written consent of a majority of eligible votes is permitted. Absent a quorum, action can be taken by ballot if ballots cast meet quorum and approval thresholds.
• Amendments to Bylaws: Bylaws may be amended by a vote of members holding more than 50% of votes at a regular or special meeting. During declarant control, the declarant can amend without owner consent for compliance, error correction, or mortgage requirements, and any amendment requires declarant approval as long as the declarant owns a unit.
• Suspension of Voting Rights: A unit owner's voting rights are automatically suspended if assessments, penalties, or fees are unpaid for 15 days, until all amounts are current. Also, if a non-monetary violation is not corrected within 15 days of notice, voting rights are suspended until the violation is resolved to the association's satisfaction.
• Financial Records & Budget: The association must provide an annual financial report (balance sheet, income statement, and statement of changes) within 60 days after each fiscal year end, on an audited, reviewed, or compiled basis. The board adopts an annual budget before each fiscal year.
• Managing Agent: The board may hire a managing agent with duties authorized by the board, but cannot delegate decisions on the budget, rules, bank signatories, borrowing, unit acquisitions, or allocation of limited common elements. Management contracts may be terminated without penalty on 30 days' notice and cannot exceed 3 years.
• What this document doesn't cover: These are only the Bylaws, not the full Declaration of Condominium or other governing documents. They do not contain rules about pets, leasing, age restrictions, parking, alterations, or maintenance responsibilities for individual units. Those rules are found in the Declaration or separate rules and regulations.

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.