Scott Condominium

Key facts from Scott Condominium's documents

Reflects the 1988 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Section 2.1: "Scott Condominiums is a co)

Legal name

Scott Condominiums

Governing law

Common Interest Ownership Act, Chapter 828 of the Connecticut General Statutes (Section 1.1: "The Common Interest Owners)

Assessments & dues

Executive Board adopts annual budget; summary delivered to Unit Owners at least 30 days before fiscal year; budget ratified unless majority of all Unit Owners vote to reject at a meeting; if not ratified, prior budget continues (Section 19.5)

Special assessments

Any assessment not in budget exceeding 15% of current annual operating budget must be submitted to Unit Owners for ratification (Section 19.6)

Collections & liens

Association has statutory lien for delinquent assessments; may foreclose like a mortgage (Section 19.4(a), (g))

Reserves & fees

Fidelity bond shall cover at least three months' assessments plus reserve funds (Section 22.4)

Leasing & rentals

Leasing allowed but with minimum term of 90 days (Section 10.2: "A Unit may not be leased )

Architectural approval

Unit Owner may not change appearance of Common Elements or exterior of Unit without permission of Executive Board (Section 13.1(a)(2))

Home business

Professional pursuits allowed if no regular traffic, mail, storage, or signs (Section 10.1(a): "professional pursuits )

Insurance

Property insurance covering all buildings, fixtures, improvements, betterments for 100% replacement cost; personal property of Association at actual cash value (Section 22.2(b), (c))

Use restrictions

Units shall be used only as single-family residences, except professional pursuits not requiring regular traffic, mail, or storage; no commercial signs outside Unit (Section 10.1(a))

Voting & meetings

Each Unit has one vote; percentage vote in Schedule A-2 (50% each) (Section 9.2(c): "Each Unit ... shall hav)

Amendments

Declaration amendments require vote of 67% of Unit Owners; unanimous consent for changes increasing Special Declarant Rights, number of Units, boundaries, allocated interests, or use restrictions; Bylaws amended by vote of 2/3 of Executive (Section 15.1, 15.4; Article XVI (Bylaws )

Extracted from the recorded governing documents and cited to them; may be incomplete and is not legal advice — verify against the official documents below.