Positano Condominium Association

Key facts from Positano Condominium Association's documents

Reflects the 2012 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Title page: "POSITANO, A CONDOMINIUM")

Developer / declarant

Positano Condominium Association, Inc. (Texas nonprofit corporation) (Certificate of Formation, Art. I; Bylaws)

Governing law

Texas Uniform Condominium Act, Texas Property Code Chapter 82 (the "Act") (Bylaws Art. IV §4.1 (definition of "Act")

Assessments & dues

Board of Directors determines Expenses and establishes Monthly Assessments; adopts annual Budget with estimates of Common Expenses and proposed Monthly Assessments (Bylaws Art. VII §7.15(a)(ii), (x))

Special assessments

Board may levy Special Assessments whenever deemed necessary for increased operating costs, capital expenses, or emergencies, subject to Declaration provisions (Bylaws Art. VII §7.15(a)(iii))

Collections & liens

Association may collect delinquent assessments by suit or otherwise; may enforce liens (including nonjudicial and judicial foreclosure) as detailed in Rules and Regulations Part II (Bylaws Art. VII §7.15(a)(viii); Rules an)

Reserves & fees

Board shall maintain Reserve Fund out of Monthly Assessments; reserve funds shall include reasonable amounts for replacement of Common Elements (Bylaws Art. VII §7.15(a)(vi); §7.17)

Pets

Pets permitted subject to Regulations; pet agreement required; certain animals prohibited (Rules and Regulations Part O)

Leasing & rentals

Leasing permitted subject to Regulations; each lease must be in writing and in form similar to Attachment A (Rules and Regulations Part E)

Parking & vehicles

Owners use designated Parking Spaces only; parking in drive lanes, aisles, fire lanes, cross-hatched areas prohibited; visitors park in designated visitor spaces (max 15 continuous days); no more than 2 cars per Unit in Parking Garage (Rules and Regulations Part F)

Architectural approval

Board of Directors approval required for changes to Units, Parking Spaces, Common Elements, and other modifications as detailed in Rules and Regulations Part M (Rules and Regulations Part M)

Home business

Personal, business, or professional use permitted if incidental to residential use, complies with applicable laws, and does not create excessive traffic or visitors (Rules and Regulations Part G §1)

Signs & flags

No sign, advertisement, or notice on outside of Unit (or inside visible from outside) without prior written consent of Association (Rules and Regulations Part G §17)

Maintenance

Association responsible for Common Elements maintenance, management, insurance, cleaning, sanitation, renewal, replacement, and upkeep; Owners responsible for their Units (including interior maintenance, windows, doors, stoves, plumbing fix (Bylaws Art. VII §7.15(a)(i); Rules and R)

Insurance

Association may purchase property insurance coverage and may name an Insurance Trustee; specific coverage amounts not stated in this document (Bylaws Art. VII §7.15(b)(iv))

Use restrictions

Units shall be used for residential purposes only; business/professional use permitted only if incidental to residential use and complies with all laws (Rules and Regulations Part G §1)

Voting & meetings

Each Owner is a Member; number of votes per Member as set forth in the Declaration; cumulative voting not allowed; Member must be in Good Standing (paid assessments, no violations) to vote (Certificate of Formation Art. V; Bylaws )

Amendments

Bylaws may be amended by vote of 67% of votes of Members voting at a meeting called for that purpose; notice of meeting must be given 10-20 days before meeting and must include specific amendment proposed (Bylaws Art. XII §12.2)

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