Magnolia Owners

What Magnolia Owners's governing documents say

These are the Bylaws of the Magnolia Owners Association, Inc., a homeowners association (HOA) governing Magnolia Village Addition, a single-family residential subdivision in Sherman, Texas. They create the rules for how the HOA is run and bind all current and future owners and tenants. This is a partial document — the detailed property-use restrictions are in the separate Declaration of Covenants, Conditions, and Restrictions.

• Membership & voting: Every owner of a lot is automatically a member, with one vote per lot. The developer holds a Class B membership with 10 votes per unsold lot until it no longer owns property or a termination date is reached. Only one vote is cast per lot when ownership is shared.
• Assessments: All owners must pay all regular and special assessments set by the Board in accordance with the Declaration. An owner is considered in good standing only if current on assessments; unpaid assessments can be collected by suit or lien foreclosure.
• Use of common areas: Each member may use common areas for their intended purposes. The Board can suspend a member's right to use common areas for being delinquent on fees/assessments or for violating the rules.
• Board of Directors: The Board has 3 to 9 directors, manages the association's affairs, and has broad powers, including enforcing the Declaration, adopting rules, maintaining common areas, and setting/levying assessments (subject to the Declaration). Directors are elected at annual meetings.
• Meetings & voting procedures: Annual meetings are held each October, and special meetings require a petition from at least 10% of the votes. A quorum is 51% of the votes of each class, and notice must be given 30 to 60 days in advance for member meetings.
• Amending the Bylaws: Before the developer's termination date, amendments require the written consent of members holding at least 67% of all outstanding votes. After that date, they require a 67% vote of members present at a meeting, provided notice of the proposed amendment was given.
• What this document doesn't cover: These Bylaws do not contain the actual use restrictions for the neighborhood — things like architectural standards, pet rules, leasing terms, or maintenance obligations are in the separate Declaration of Covenants, Conditions, and Restrictions.

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.