Three Chopt Square 2

Key facts from Three Chopt Square 2's documents

Reflects the 1987 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

The Three Chopt Square Association Inc.

Developer / declarant

The Three Chopt Square Association Inc.

Governing law

Oklahoma Unit Ownership Estate Act, 60 Okl. Stat. §501 et seq. (1978 Supp.) (Article I, Section 1 of Declaration)

Assessments & dues

Board fixes monthly assessments based on estimated expenses for the fiscal year, may include reserves for maintenance, repair, replacement of General Common Elements (Declaration Article XV, Section 2(a))

Special assessments

Yes, if common expense fund is or will become inadequate, Board may immediately determine deficiency and levy emergency assessments against all Unit Owners (Declaration Article XV, Section 3)

Reserves & fees

$10.00 per delinquent assessment; plus interest at 18% per annum if not paid within 10 days after due date (Declaration Article XV, Section 4)

Voting & meetings

Each Unit's vote based on percentage interest in Common Elements (Exhibit E); joint owners vote as a unit; proxy allowed for up to 11 months from date of proxy; if joint owners disagree, votes not counted (Declaration Article XIII, Sections 1-2; )

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