Latera Homeowners Associ

What Latera Homeowners Associ's governing documents say

These are the Bylaws of the Latera Homeowners Association, a single-family HOA in Frisco, TX. They govern the internal operations of the Association — board structure, meetings, voting, and assessments — and bind all lot owners (homeowners) in the community.

• Developer control of board: Until the developer (Creekside Land Company, Ltd.) and specified individuals no longer own any lots, those individuals (Terry Holmes, Tom Hobden, Dean Trudell) cannot be removed by members and serve on the board for three-year terms.
• Assessments & late charges: Assessments are levied per lot and become a lien if unpaid. Late charges: 6% of the assessment if paid between 61-90 days late, plus a 1.5% continuing late charge after 90 days. The board may also suspend membership rights (but not road access) while unpaid.
• Voting & member meetings: Annual meetings required; special meetings can be called by 1/4 of votes. Proxies allowed. Members have referendum power (51% of returned votes needed) on certain actions like special assessments.
• Board meetings & quorum: Regular meetings can be monthly; special meetings require 3 days' notice. A majority of directors constitutes a quorum, and a majority present can act.
• Membership rights suspension: The board may suspend a member's rights for nonpayment of assessments or for violating rules (max 30 days for rule violations). Rights restore automatically upon payment.
• Books & records: Books and records must be available for member inspection during business hours. A certificate of assessment payment can be issued for a reasonable charge.
• What this document doesn't cover: These Bylaws are only the internal governance rules. They do not contain the full CC&Rs, architectural guidelines, use restrictions, or pet/rental policies. Those would be found in the Declaration or other governing documents.

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.