Glen Hollow Estates Property Owners

What Glen Hollow Estates Property Owners's governing documents say

Glen Hollow Estates is a standard single-family home subdivision in McKinney, TX, governed by an HOA. This recorded document is not the full set of deed restrictions; it contains four board-adopted policies that bind the association and homeowners, covering document retention, payment plans for delinquent assessments, records access, and contract bidding.

• Document retention: The association must keep formation documents and amendments permanently; financial records for at least 7 years; account records of current owners for at least 5 years; contracts of 1+ years for at least 2 years after expiration; meeting minutes for at least 7 years; tax returns and audits for at least 7 years.
• Payment plans for delinquent assessments: Homeowners can request a payment plan for overdue assessments to avoid additional monetary penalties. The minimum plan term is 3 months. Payments are due on the first of the month. Default occurs if a payment is not received within 3 business days of due date; after default, payments are applied first to attorney fees, then interest, administrative fees, delinquent assessments, current assessments, other amounts, then fines. A homeowner who defaulted on a plan within the past 2 years or is in foreclosure may be ineligible.
• Records inspection and copying: Owners (or their written designee) may inspect and copy association records. A written request must be submitted; the association must respond within 10 business days and produce records within 15 business days (if unable within 10, they must notify within 10 and produce within 15). Estimated copying costs must be prepaid. Certain records are not available without owner consent or court order, including attorney files, personal info of owners, violation history, personal financial info, payment records of individual owners, employee info, and contact info of owners who opted out.
• Contract bidding requirements: Contracts exceeding $50,000 require competitive bidding with at least three bids. The requirement may be waived in emergencies, to preserve existing warranties, or if no other vendors bid. The board may accept a higher bid if justified, and must document the reason. Conflicts of interest: board members with a conflict must recuse themselves; the board may contract with a member only if the member does not participate in the decision and the contract is at arm's length.
• What this document doesn't cover: This document does not include the community's full declaration of covenants, conditions, and restrictions. It does not address leasing, pets, age restrictions, parking, architectural standards, or other typical HOA rules. For those details, refer to the recorded Declaration of Covenants, Conditions, and Restrictions for Glen Hollow Estates (recorded in 1988 and 1992).

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.