EL DORADO PROPERTY OWNERS ASSOCIATION, INC.
DOCUMENT RETENTION POLICY WHEREAS, El Dorado Property Owners Association (the "Association") constitutes a property owners association under the provisions of Chapter 209 of the Texas Property Code (the "Code") and is composed of fifteen (15) or more lots; WHEREAS, Section 209.005(m) of the Code provides that the Association must adopt and comply with a document retention policy that includes, at a minimum, the items specified in Section 209.005(m) of the Code; and WHEREAS, the Board of Directors of the Association (the "Board") desires to adopt a document retention policy as required under Section 209.005(m) of the Code.
NOW, THEREFORE, the Board hereby adopts this Document Retention Policy (the "Policy"), as set forth below.
DOCUMENT RETENTION POLICY 1. Policy: Books and records are to be retained by the Association for the period of their immediate use, unless longer retention is required for historical reference, contractual or legal requirements, or for compliance with the document retention periods set forth in this Policy. Records that are no longer required, or that have satisfied their recommended period of retention, may be destroyed in an appropriate manner.
The Association's Secretary is responsible for ensuring that the Association's books and records are identified, retained, stored, protected, and subsequently disposed of, in accordance with the guidelines set forth in this Policy. Books and records that are required to be retained pursuant to this Policy may be scanned and maintained in an electronic format.
2. Document Retention Periods: The following books and records are to be retained by the Association for the retention periods specified below: Record Tvpe: Certificate of Formation (formerly
format.
2. Document Retention Periods: The following books and records are to be retained by the Association for the retention periods specified below: Record Tvpe: Certificate of Formation (formerly referred to as Articles of lncorporation), Bylaws, Declarations, and any amendments thereto.
Financial books and records.
Account records of current Lot Owners.Retention Period: Permanently 7 years 5 years 412012013 Rev. None EL DORADO PROPERTY OWNERS ASSOCIATION, INC.
DOCUMENT RETENTION POLICY Architectural Control Committee 5 years (ACC) Records Tax returns and audit records 7 years Contracts with a term of one (1) year 4 years after the expiration of the or more. contract term Minutes of Board, Membership and 7 years Architectural Control Committee (ACC) Meetings.
2 4l2Ol2O13 Rev. None EL DORADO PROPERTY OWNERS ASSOCIATION, INC.
DOCUMENT RETENTION POLICY GERTIFICATION lN WITNESS WHEREOF, the undersigned, Helen Jungemann, as the duly elected, qualified, and acting Secretary of El Dorado Property Owners Association, lnc. a Texas nonprofit corporation, hereby certifies on behalf of the Association that this Document Retention Policy was duly adopted by the Board of Directors of the Association at a meeting of the Board held on April 20, 2013, and shalltake effect upon its recording in the Official Public Records of Franklin County, Texas.
This instrument was acknowledged before me on tne i 5 d ay-rue ,2013, by Helen Jungemann, Secretary of El Dorado Property Owners Associ lnc., a Texas nonprofit corporation.
lsEAL] AFTER RECORDING PLEASE RETURN TO: Dan Schmeling, President El Dorado Property Owners, lnc.
P.O. Box 103 Scroggins, Texas 7 5480.El Dorado Property Owners Association, a Texas Nonprofit Corporation Public Signature 4l2Ol2A13 Rev. None