Meadow Woods Homeowners

Key facts from Meadow Woods Homeowners's documents

Reflects the 2015 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Homeowners Association (Title: 'MEADOW WOODS HOMEOWNERS ASSOCIAT)

Legal name

Meadow Woods Homeowners Association

Governing law

General Not For Profit Corporation Act of the State of Illinois (Article I, 'the General Not For Profit C)

Assessments & dues

Board estimates annual cash requirement on or before December 1, notifies owners by Dec 15, assessed equally among owners other than Declarant (Article VI: 'Each year on or before Dece)

Special assessments

Board may levy further assessment if reserve inadequate for extraordinary expenditures (Article VI: 'If such reserve proves inad)

Collections & liens

Unpaid assessment after 30 days becomes lien; may foreclose and recover interest, costs, and attorney's fees (Article VI: 'the amount of any delinquen)

Reserves & fees

Board shall maintain reasonable reserve for capital expenditures, contingencies, replacements (Article VI: 'build up and maintain a rea)

Voting & meetings

Cumulative voting for Board elections (Article IV: 'each Voting Member shall be)

Amendments

Bylaws may be amended by approval of Voting Members entitled to cast three-fourths (3/4) of total votes (Article IX: 'These By-Laws may be amende)

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