Keith Street Cottages Condominium Association, Inc.

Key facts from Keith Street Cottages Condominium Association, Inc.'s documents

Reflects the 2019 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Master Deed preamble, Article 1)

Legal name

KEITH STREET COTTAGES CONDOMINIUM ASSOCIATION, INC.

Assessments & dues

Board prepares budget covering estimated operating costs for coming year; budget and assessment delivered to each member at least 30 days prior to end of current fiscal year; budget becomes effective unless disapproved at a meeting by vote (By-Laws Article VII Section 3)

Special assessments

For inadequate annual assessment: may be levied by Board if approved at a duly called meeting by two-thirds vote of those present in person or by proxy. For capital improvements: must be approved by affirmative vote of majority of members a (By-Laws Article VII Section 4(a)(b))

Collections & liens

Lien for assessments and creation of lien and personal obligation for assessments as set out in Master Deed, specifically Declaration of Covenants and Restrictions Article 6.06 (By-Laws Article VII Section 2)

Reserves & fees

Board annually prepares a capital reserve budget taking into account replaceable assets, expected life, required contribution; capital contribution may be included in budget and assessment; copy distributed to each member in same manner as (By-Laws Article VII Section 5)

Architectural approval

Prior written approval of Board of Directors required for any exterior change, alteration, construction, planting, sign, object, light or thing on exterior or visible from outside of unit (By-Laws Article VI Section 4)

Maintenance

Association maintains roofs including shingles and surfaces (By-Laws Article VI Section 6(b))

Insurance

Casualty insurance for full replacement cost of all structures; liability insurance $500,000 single injury, $1,000,000 per occurrence, $50,000 property damage; workers compensation; public liability and officers/directors liability; fidelit (By-Laws Article VI Section 2)

Voting & meetings

One vote per unit, except original Developers have three votes per unit as set out in Master Deed (By-Laws Article I Section 3)

Amendments

By-Laws may be amended by affirmative vote/written consent of members holding at least two-thirds of total Association vote; notice of meeting must state subject; amendment effective upon recording in Bradley County records (By-Laws Article IX Section 8)

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