Leisuretowne Assoc Inc

Key facts from Leisuretowne Assoc Inc's documents

Reflects the 2017 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

planned retirement community for adults 55 years and older (Covenant 25, Page 11)

Legal name

Leisuretowne Assoc Inc

Units / lots

approximately 2255 residential units (Bylaws, Background B, Page 22)

Governing law

New Jersey Nonprofit Corporation Act (Bylaws, Article I, Section A (reference )

Assessments & dues

Set by Board; monthly payments due on 1st of each month (Bylaws, Article IV, Sections 3,4, Page 2)

Special assessments

Board may levy additional assessments for increased operating/maintenance costs, additional capital expenses, or emergencies. (Bylaws, Article V, Section 10 B, Page 32)

Reserves & fees

Non-refundable membership transfer fee and management fee; established by Board resolution recorded with County Clerk; deposited into capital projects fund. (Covenant 30, Page 15)

Voting & meetings

One vote per unit regardless of number of owners; jointly owned units may split vote; member must be in good standing to vote. (Bylaws, Article III, Section 8 and 9, Pa)

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