Wescott Community Association Inc

What Wescott Community Association Inc's governing documents say

This is an amendment to the bylaws of Wescott Community Association, Inc., a homeowners association (HOA) in Holly Springs, NC. It changes the financial reporting requirement from an annual audit to a biennial (every two years) audit, with a financial review in the off years. This document is for homeowners in the community, as it affects how the association's finances are reported to them.

• Financial reporting: The association must have an outside audit of all receipts and expenditures every two years, due within 180 days after the close of the fiscal year. In the year between audits, the board must have a financial review done by a certified public accountant.
• Record access: Detailed financial records, including assessments, payments, and expenses, must be kept and made available for examination by any lot owner (or their authorized agent/attorney) during working hours by prior arrangement.
• Mortgagee copies: A copy of any audit or financial review must be furnished to all mortgagees of lots who request it.
• What this document doesn't cover: This is only an amendment to the bylaws; it does not contain the full rules of the community. For complete rules, refer to the original bylaws and the Declaration of Covenants, Conditions, and Restrictions.

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.