Oak Ck Est Homeowners As

What Oak Ck Est Homeowners As's governing documents say

This is the Bylaws of the Oak Creek Estates Homeowners’ Association, Inc., a Texas non-profit corporation governing a single-family home subdivision. The Bylaws establish the association’s governance structure — membership, board of directors, officers, meetings, and finances — but do not contain the full set of community rules (CC&Rs). All lot owners automatically become members and are subject to the association’s governing documents.

• Membership & voting: Every lot owner is automatically a member with one vote per lot. Combined votes total 100% (167 votes currently). A 'majority of owners' means 67% of votes. Quorum is a majority of owners (67%). Proxies are allowed.
• Board of Directors: The board initially has three directors with staggered 1-, 2-, and 3-year terms; thereafter each serves 3 years. Directors are elected by members at the annual meeting. Vacancies are filled by remaining directors. Directors may be removed with or without cause by a majority vote of owners.
• Meetings: Annual meetings are held yearly. Special meetings can be called by the board or by petition of at least 1/10 of owners. Notice of meetings must be given 10–50 days in advance. Board must meet at least four times per fiscal year.
• Officers: Officers (President, Vice President, Secretary, Assistant Secretary, Treasurer) are elected annually by the board and serve at its pleasure. The President presides and co-signs notes with the Secretary and checks with the Treasurer.
• Financial management: The board may hire a management company. An annual operating budget is prepared, and monthly financial statements are produced. The board may require fidelity bonds for employees handling funds. An annual audit is prepared and available to owners and mortgagees.
• Amendments: After the declarant control period ends, Bylaws may be amended by a vote of at least 66 2/3% of owners. Before that, the board can unilaterally amend to correct errors or meet lender requirements. Amendments cannot conflict with the Declaration.
• Indemnification of directors & officers: The association shall indemnify directors and officers for expenses and legal fees incurred in legal proceedings, except in cases of gross negligence or willful misconduct. Settlement indemnification requires a finding of no such misconduct.
• What this document doesn't cover: These Bylaws do not contain specific use restrictions, architectural guidelines, pet rules, leasing restrictions, maintenance responsibilities, or assessment amounts. Those rules are in the separate Declaration of Covenants, Conditions, and Restrictions (CC&Rs).

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.