Holstonmeadows

What Holstonmeadows's governing documents say

This is the Articles of Incorporation for the Holston Meadows Homeowners' Association, a non-profit corporation that manages a planned subdivision in Durham, NC. It establishes the legal framework for the HOA, including its purpose, membership, and governance. This document is for homeowners in the subdivision, as membership is tied to owning a lot.

• What this document is: These are the Articles of Incorporation for the Holston Meadows Homeowners' Association, Inc., a non-profit corporation formed to manage the Holston Meadows Subdivision. It is not the full set of rules; the Declaration of Restrictions and Covenants contains the actual property restrictions.
• Membership & voting: Membership is automatic for all lot owners in the subdivision, including the developer. Each lot owner is entitled to vote as provided in the Bylaws and Declaration. Membership cannot be transferred separately from the lot.
• HOA powers & assessments: The Association has the power to make and enforce rules, and to levy and collect assessments from lot owners to pay for common expenses, maintenance, and insurance. It can also enforce the Declaration and Bylaws by legal means.
• Board of directors: The Board must have at least three directors, elected by members after the developer relinquishes control. The initial board is named in the document, and directors need not be members.
• Tax status & dissolution: The Association is tax-exempt under Section 528 of the IRS code. It cannot distribute income to members except as rebates of excess assessments. Dissolution requires a two-thirds vote of members and approval by the developer, and assets must go to a similar non-profit.
• What this document doesn't cover: This document does not contain specific rules about property use, architectural controls, pets, leasing, or other day-to-day restrictions. Those are in the Declaration of Restrictions and Covenants, which is not included here.

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.