Butterfly Creek

Key facts from Butterfly Creek's documents

Community type

homeowners association (not a condominium) (Page 6: "THIS DOCUMENT DOES NOT INTENDED)

Legal name

Butterfly Creek

Developer / declarant

Butterfly Creek Associates, L.L.C., an Oklahoma limited liability company (Preamble)

Governing law

Oklahoma law (Title 60, Chapter 11 referenced but not applicable) (Page 6: "THE UNIT OWNERSHIP ESTATE ACT, )

Assessments & dues

Board adopts annual budget including Common Expenses; Base Assessment allocated among Units; budget effective unless disapproved by majority of Association vote and Declarant (if Declarant owns property) (Sections 8.1, 8.3)

Special assessments

Allowed for unbudgeted or excess expenses; may require vote of membership if beyond threshold (not specified); may be payable in installments (Section 8.5)

Collections & liens

All unpaid assessments constitute a lien on the Unit; Association may foreclose in like manner as a mortgage (Section 8.8)

Reserves & fees

Board shall include in Base Assessments reserves for capital repairs and replacements; separate reserve account (Sections 8.2, 8.12(c)(2))

Home business

Limited home occupation allowed with conditions: no employees, no customers on site, no signs, no nuisance, no more than 25% of floor area, must be secondary to residential use (Exhibit B Section 1)

Use restrictions

Yes; each Unit is a detached residence for a single family (Definition of "Unit": "intended for use )

Voting & meetings

Class A: one vote per Unit; Class B: Declarant has one vote per Unit owned (Article VI Section 6.3 and Bylaws Sectio)

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