Prosper Ridge Residential Community, Inc.

What Prosper Ridge Residential Community, Inc.'s governing documents say

This is a set of governing documents for Prosper Ridge, a single-family residential HOA community in Denton County, Texas, developed by GRBK Edgewood LLC. The documents include the community's Certificate of Formation, Bylaws, and various policies, and they bind all homeowners (members) in the association. This excerpt focuses on the association's corporate structure, board governance, and member voting procedures, not on day-to-day property rules.

• Association membership & voting: Every lot owner is automatically a member of the Prosper Ridge Residential Community, Inc. Voting rights are set by the Declaration; a quorum is 10% of total votes, and most actions require a majority of votes present. Proxies, absentee ballots, and electronic ballots are allowed, with specific rules for each.
• Board of directors & elections: The board initially has 3 directors appointed by the Declarant. During the development period, the Declarant controls two-thirds of the board. After the development period, members elect directors to staggered terms (1, 2, and 3 years initially, then 2-year terms). Directors serve without compensation.
• Meetings & notices: Annual member meetings are held, and special meetings can be called. Notice must be given 10–60 days in advance (or 72 hours by email if registered). Board meetings are open to owners, but can go into closed executive session for personnel, litigation, contract negotiations, enforcement, and other confidential matters.
• Amendments & developer control: The Declarant can amend the Certificate of Formation, Bylaws, and Community Manual during the development period. After that, the board can amend the Bylaws and Community Manual by a majority vote. Certain changes to the Certificate require 100% member approval.
• What this document doesn't cover: This excerpt does not include the full Declaration of Covenants, Conditions and Restrictions, so it omits property use restrictions, architectural guidelines, maintenance obligations, and specific assessment amounts (other than a $500 working capital assessment referenced in a separate document).

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.