Meridian Square Condominiums

What Meridian Square Condominiums's governing documents say

Meridian Square is a condominium community in Richardson, TX. This document is the Bylaws and Articles of Incorporation of the homeowners association — it defines the corporate structure, not the day‑to‑day rules for residents. Unit owners automatically become members of the association and are subject to assessments and governance rules.

• Association membership: Every unit owner is automatically a member. Membership is tied to unit ownership and cannot be separated. Voting is per unit based on the unit's common interest. Owners may be suspended from using common areas for non‑payment of assessments or rule violations.
• Board of Directors: The board manages the association. Initial board has 5 directors serving staggered 3‑year terms. Directors need not be owners. During the declarant control period (until 120 days after 75% of units sold to non‑declarant owners), the declarant appoints and removes directors.
• Meetings & voting: Annual members' meeting required; special meetings called by board or 20% of votes. Quorum is a majority of all votes. Majority of votes present decides actions unless a higher vote is required. Members may vote by proxy.
• Assessments & finances: The board sets annual and special assessments. Assessments become a lien on the unit if unpaid. The board must keep books, provide annual audit, and present a budget to members for approval. Board cannot spend over $10,000 on capital improvements without member approval (except insurance proceeds or budgeted items).
• Amendments & conflicts: Bylaws may be amended by majority vote of members or board. The Declaration controls over the Bylaws; the Certificate of Formation controls over the Bylaws.
• What this document doesn't cover: This is a corporate governance document. It does not contain rules about pets, leases, age restrictions, parking, architectural review, or use of units. Those rules would be in the Declaration of Covenants, Conditions and Restrictions (not included here).

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.