Oakwood Ck Owners

What Oakwood Ck Owners's governing documents say

Oakwood Creek is a condominium community in Balch Springs, Texas, governed by the Oakwood Creek Owners Association, Inc. These Bylaws set the rules for the association and unit owners — but the full rulebook also includes a Declaration of Condominium, which is not provided here.

• Membership & voting: Each unit owner has one vote per unit, weighted by ownership share. There are currently 46 votes total. A majority is 51% of votes, and a quorum requires a majority of owners present in person or by proxy.
• Meetings: Annual meetings are held on the fourth Tuesday of January. Special meetings can be called by the Board, President, or upon petition of 1/10 of owners. Notice must be mailed 10-20 days before the meeting.
• Board of Directors: Initially 3 directors, can increase to 5. Directors serve staggered 3-year terms after initial setup. A majority of directors is a quorum. The Board has broad powers to enforce covenants, make rules, maintain common elements, insure them, and levy assessments.
• Assessments: All owners must pay monthly assessments pro rata based on ownership interest. Assessments are due monthly in advance. The Board can adjust assessments by majority vote and levy special assessments. Owners must be current to vote.
• Insurance: The Association must insure common elements for full replacement value and carry liability insurance of at least $100,000 per person, $300,000 per accident, $50,000 property damage, plus a $1,000,000 umbrella policy.
• Owner obligations: Owners must comply with the Declaration and these Bylaws, promote cooperative purposes, and use common elements only for their intended purposes. If a unit is destroyed or condemned, owners must execute a power of attorney for the Association to act.
• Amendments: After declarant control ends, Bylaws can be amended by a vote of owners representing at least 66-2/3% of ownership interest. Before that, the declarant can amend unilaterally to correct errors or meet lender requirements.
• What this document doesn't cover: This excerpt is only the Bylaws. It does not include the full Declaration of Condominium, which contains details on unit descriptions, common elements, use restrictions, lease terms, pet rules, and more. The separate lease amendment is for a commercial clubhouse lease, not residential rules.

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.