Prospect Villa Owners Association

Key facts from Prospect Villa Owners Association's documents

Reflects the 2000 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium Project (Section 1.2 (page 8895))

Legal name

PROSPECT VILLA OWNERS ASSOCIATION, a California nonprofit mutual benefit corporation (Section 1.3.4 (page 8896))

Units / lots

6 residential dwellings (Living Units) (Section 1.3.1 (page 8895))

Developer / declarant

PROSPECT VILLA DEVELOPMENT, LLC, a California limited liability company (Introductory paragraph (page 8895))

Governing law

Davis-Stirling Common Interest Development Act (California Civil Code Section 1351(f)) (Section 1.2 (page 8895))

Special assessments

Special assessments may be levied by the Board with the approval of a majority of voting power. (Section 11.7 (page 8927))

Reserves & fees

The Board shall maintain a reasonable reserve fund for capital expenditures and deferred maintenance. (Section 11.31 (page 8936) and Section 11)

Leasing & rentals

Leasing of Units is permitted, but subject to the requirements of Section 12.2. (Section 12.2 (page 8937))

Voting & meetings

Two classes: Class A (all Owners except Declarant) and Class B (Declarant). Each Living Unit has one vote in Class A. Class B voting rights not explicitly stated but Declarant has certain control. (Sections 8.2.1, 8.2.2 (pages 8919-8920))

Amendments

Amendments require approval of 67% of the voting power, except certain amendments require Declarant's consent or unanimous vote. (Section 20.3 (page 8975))

Extracted from the recorded governing documents and cited to them; may be incomplete and is not legal advice — verify against the official documents below.