Venu Condominium Association

What Venu Condominium Association's governing documents say

This is the Bylaws of Venu at Grayhawk Condominium Association, a condominium community in Scottsdale, AZ. The document governs the internal operations of the association, including meetings, board of directors, officers, and committees. It also includes a board resolution that sets specific fees and interest rates related to assessments.

• Meetings of Members: An annual meeting of unit owners must be held each year. Special meetings can be called by the president, a majority of the board, or owners holding at least 25% of eligible votes. Notice must be given 10 to 60 days in advance. A quorum is met when owners with at least 1/10 of eligible votes are present in person or by proxy. Proxies are valid for up to one year.
• Board of Directors: During the period of declarant control, the declarant appoints and removes directors; afterward, owners elect directors for one-year terms. The board must have at least 1 director (3 during declarant control) and at most 9, and the number must always be odd. Directors serve until successors are elected. A director can be removed at a member meeting by a vote of more than 2/3 of votes present.
• Officers: The principal officers are president, vice president, secretary, and treasurer. During declarant control, the declarant appoints and removes them; afterward, the board of directors elects them annually. After declarant control, the president must also be a director.
• Fees and Penalties: A late charge of $25 is imposed if any assessment or other amount is not paid within 5 days after the due date. Unpaid assessments bear interest at 15% per annum from the due date. Additional fees include a transfer fee of $80 for new owners (other than declarant), a lien fee of $100 for recording a lien, and a resale statement fee of $150.
• Committees: The board may create committees of board members, which can exercise board authority except for certain actions like authorizing distributions or filling vacancies. The board may also appoint advisory committees of members or non-members that have no decision-making power.
• Amendments: These bylaws can be amended by a vote of more than 50% of eligible votes. During the period of declarant control, the declarant may amend without owner consent to comply with law, correct errors, or meet government requirements, but such amendments must be approved by the VA or HUD.
• What this document doesn't cover: These bylaws do not address rules about leasing, pets, age restrictions, architectural changes, parking, or use of units. Those rules are likely in the Condominium 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.