Preston One Office Condominium, Inc.

What Preston One Office Condominium, Inc.'s governing documents say

This is the Bylaws of Preston Office Condominium, Inc., the governing body for Preston One Condominiums, a commercial office condominium in Plano, TX. The document establishes the internal rules for the association's board of directors, meetings, officers, enforcement, and owner obligations. It does not contain the specific use restrictions (e.g., leasing, pets, parking) or the declaration of condominium, which would be found in separate documents.

• Board of Directors qualifications & elections: Directors must be a member (unit owner) or their spouse. Entity owners may appoint a representative. A director's term is two years, staggered. No person may serve if delinquent on assessments, in violation of documents, or adverse to the association in litigation.
• Association meetings & voting: Annual meeting in January. Quorum requires 51% of units in person or by proxy. Members in arrears 45 days before a vote may be barred from voting. Proxies are valid for up to one year. Cumulative voting is prohibited.
• Owner obligations: Owners must provide notice of sale 10 business days before closing, register their mailing address and occupant info within 30 days, and notify the association of any changes. They must provide mortgagee info within 30 days of granting a lien.
• Enforcement & fines: The board may impose fines or self-help abatement after written notice and a hearing upon request (within 30 days). Fines must be reasonable, may be periodic for ongoing violations, and cannot include interest or be foreclosed as a lien solely for fines. Immediate action allowed for self-evident, life-threatening, or repeat violations.
• Amending the Bylaws: Amendments require approval by a majority of votes present at a properly called meeting with a quorum. However, amending the amendment section itself requires approval of a majority of all units. Certain changes may need mortgagee approval.
• What this document doesn't cover: This document does not contain the condominium declaration, which defines units, common elements, assessment formula, and use restrictions. Rules on leasing, pets, parking, architectural changes, or age restrictions are not here. Those would be in the declaration or separate 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.