Ponderosa Place Homeowners Association

Key facts from Ponderosa Place Homeowners Association's documents

Reflects the 2022 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (References to "Montana Unit Ownership Ac)

Legal name

Ponderosa Place Homeowners Association

Governing law

Montana Unit Ownership Act (Page 1: "Montana Unit Ownership Act")

Assessments & dues

Annual assessment determined by Board, payable in monthly or other installments as Board determines. (Section 9.1.1)

Special assessments

Allowed for capital improvements and shortfalls; not due for at least 30 days after notice, payable in lump sum or installments as provided. (Section 9.1.2)

Reserves & fees

Assessments delinquent if not paid within 30 days of due date; no specific late fee stated. (Section 9.1.1)

Insurance

Owner must insure improvements and betterments to their Unit, with same carrier or without contribution, and with waiver of subrogation. (Section 11.1)

Voting & meetings

One vote per Unit; total 2 votes. Proxies allowed in writing filed with Secretary. Action by consent requires 75% of total voting power in writing. (Sections 5.4, 5.5, 5.6)

Amendments

Bylaws amended by affirmative vote of Unit Owners holding at least 75% of total voting power. Rules amended by Board, not required to be recorded. (Section 16)

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