Davis Spring Residential Property Owners' Association, Inc.

Key facts from Davis Spring Residential Property Owners' Association, Inc.'s documents

Reflects the 2002 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Single Family Residential (Section 5: 'single family lot')

Legal name

The Homeowners’ Association for Davis Spring Properties, Ltd.

Developer / declarant

Davis Spring Properties, Ltd.

Governing law

Texas Non-Profit Corporation Act (Article 2 Section 3, Article 5 Section 8)

Assessments & dues

Board adopts budget at least 30 days before fiscal year end, sets assessments based on estimated Common Expenses. Budget sent to each Lot Owner at least 30 days prior to fiscal year. (Article 8 Sections 1.2 and 1.4)

Special assessments

Board may levy further assessment if Capital Contribution Fund inadequate; notice to all Lot Owners required. (Article 8 Section 1.7)

Collections & liens

Unpaid assessments become a continuing lien on the Lot. After notice and cure period, Board may accelerate and enforce collection including foreclosure. (Article 8 Sections 1.2.1, 1.5, 3; Articl)

Reserves & fees

Capital Contribution Fund established for replacements and repairs. Board shall build up and maintain reasonable capital contributions. Operating Fund for current expenses. (Article 8 Sections 1.3 and 1.7)

Voting & meetings

One vote per Lot or Potential Lot. Co-owners entitled to one vote collectively, designated by majority interest. Class B Members (Declarant) have three votes per lot. Cumulative voting not permitted. (Article 3 Sections 2 and 5)

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