Foxwood Addition Homeowners Association, Inc.
Open Records and Records Retention Policy The undersigned, being the President of Foxwood Addition Homeowners Association, Inc. (the “Association”), certified that the following Policy Resolution was unanimously approved by the Board of Directors of the Association at a meeting duly £ called and heldon w=), WHEREAS, Article 5, Section 5.04 of the Declaration of Covenants, Restrictions and Conditions of the Association, Inc. (“Declaration”) assigns the Board of Directors (“Board”) all powers and duties necessary for the administration of the affairs of the “Association” and states that the Board may do all such acts and things, except those matters that the Board is prohibited from doing by law or the governing documents; WHEREAS, Article 5, Section 5.04 of the Declaration provides that the Board has all powers and duties necessary for the administration of the Association and for the operation and maintenance of the Property; and further the Board may do all acts and things except those that, by law or the documents, are reserved to the members; WHEREAS, the Board of Directors wishes to establish standards for Open Records and Records Retention to serve as guiding principles for members of the Association; and, WHEREAS, the Board has determined that it is in the best interests of the Association and the Association’s members to adopt the Open Records and Records Retention Policy attached hereto as Exhibit A.
NOW, THEREFORE, BE IT RESOLVED that the Board of Directors hereby adopts, the attached Open Records and Records Retention Policy (Exhibit A) as a guide to the relationship between the Association and its members.
Executed on this EX day of / / ; 4 “to certify the adoption of this
tached Open Records and Records Retention Policy (Exhibit A) as a guide to the relationship between the Association and its members.
Executed on this EX day of / / ; 4 “to certify the adoption of this Policy Resolution on the date of the meeting of the Board of Directors of the Association set forth above.
Foxwood Addition Homeowners Association, “Inc.
Board of Directors v_, Président THE STATE OF TEXAS COUNTY OF SMITH \,, BEFORE ME, the undersigned notary public, on this day personally appeared SM winches ci, President of Foxwood Addition Homeowners Association, Inc., known to be to be)the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purpose and in the Capacity therein expressed.
as ye oT A Ls, Piconl ei Notary Public — State of Texas “ Exhibit A OPEN RECORDS AND RECORDS RETENTION POLICY i. Open Records: (a) An owner who seeks access to the Association’s records must submit a written request to the Association by certified mail to the mailing address of the Association’s managing agent or authorized representative.
(b) The request must specify the records requested and indicate whether the requesting owner would like to inspect the records or have the Association’s authorized representative forward copies.
(c) Within ten (10) days from receipt of the request the Association's authorized representative will: (1) Provide written notice of dates in which records will be available for inspection; (2) Provide the requested copies or: (3) Provide the owner written notice that it is unable to produce records within the ten (10) day
otice of dates in which records will be available for inspection; (2) Provide the requested copies or: (3) Provide the owner written notice that it is unable to produce records within the ten (10) day period and provide a date, within an additional fifteen (15) days, by which the records will be sent or made available to the owner.
(d) Inspection of records will only be conducted during normal business hours which are designated as Monday through Friday, 9:00 a.m. to 5:00 p.m.
(€) The time and day of inspection will be mutually agreed upon by both parties.
(f) The following is a list of charges for production and of copying of the Association’s records: (1) Copying fee: 10 cents per copy (2) Production/administrative fee: $15.00 per hour (g) The Association’s records can be produced in hard copy, electronic or any other format reasonable available.
(h) The Association requires an owner to pay for any cost incurred for the records inspection at least five (5) days prior to the records being produced to the owner.
(i) If actual costs are lesser or greater than estimated costs, the Association reserves the right to submit a final invoice to the owner before the 30" business day after the information is delivered to the owner.
(j) If the final invoice is not paid to the Association before the 30" business day after the date the invoice was sent to the owner, the Association will add this amount to the owner's account as assessments.
If the costs were less than the estimated amount paid by the owner the Association will refund the (k owner no later than the 30" business day after the invoice was sent to the owner.
or (1) The following records will not be available pursuant to an Open Records request, unless there is a
efund the (k owner no later than the 30" business day after the invoice was sent to the owner.
or (1) The following records will not be available pursuant to an Open Records request, unless there is a court order to release this information, or the owner who is the subject of such records agrees in writing that they may be released to the requesting owner: (1) Violation histories of owners; (2) Owners personal financial information; (3) Owners contact information other than address, (4) Any Association personnel files.
(m) General exceptions to the open records policy will be any attorney files.
2, Records Retention: The following is a list of the records that must be kept and the retention period that the records will be retained: (a) Financial Records: 7 years (b) Minutes from the owners meetings: 7 years (c) Minutes from the board meetings: 7 years (d) Tax returns and audits 7 years (e) Account records of current owners: 5 years Any contract for terms of at least one year or more will be retained for at least 4 years after the expiration of the contract.
The following records will be kept permanently: (a) Governing documents (b) Rules and Regulations (c) Resolutions (d) ACC Records 3. Restrictive Endorsements — This policy shall supersede any written or verbal instruction or direction received from an owner as to open records and records retention made to the Association.
4. This policy is intended to comply with the requirements of the Texas Property Code.