Oyster Bay Condominium Association

Key facts from Oyster Bay Condominium Association's documents

Reflects the 2007 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Section 2.1: 'Oyster Bay is a condominiu)

Legal name

Oyster Bay Condominium Association, Inc.

Developer / declarant

Mayland Associates, a limited partnership organized under the laws of the State of Connecticut (Section 1.8)

Governing law

Connecticut Common Interest Ownership Act (CIOA) Chapter 828 of the Connecticut General Statutes, and Condominium Act Chapter 825 (Section 1.1 and 1.1(a))

Assessments & dues

Common Expenses are assessed based on each Unit's percentage interest (relative floor area) as shown on Schedule A-2; budget adopted by Executive Board and submitted to Unit Owners for ratification; if rejected, prior budget continues (Sections 19.2 and 19.5)

Special assessments

Non-budgeted assessments greater than 15% of current annual operating budget must be submitted to Unit Owners for ratification in the same manner as a budget (Section 19.6)

Collections & liens

Association has a statutory lien on each Unit for unpaid assessments; lien is prior to all liens except pre-recorded encumbrances, first or second Security Interests recorded before delinquency date, and real property taxes; foreclosable li (Section 19.4)

Reserves & fees

Reserves may be established by the Association for repair, replacement, or addition to Common Elements or other property held by the Association (Section 19.1(d))

Leasing & rentals

Yes, all leases and rental agreements must be in writing and subject to the Documents and the Association (Section 10.2)

Architectural approval

Unit Owner may not change the appearance of the Common Elements, or the exterior appearance of any other portion of the Common Interest Community, without approval of the Executive Board; also additions, alterations, improvements to Common (Section 13.1(a)(ii) and 13.1(b))

Home business

Permitted if professional pursuits not requiring access by the public or unreasonable levels of mail, shipping, trash, or storage; no commercial or professional signs may be displayed outside a Unit (Section 10.1(a))

Maintenance

Unit Owner maintains their Unit and certain Limited Common Elements (e.g., exterior doors/windows, portions of services serving only that Unit, snow/leaf removal from appurtenant Limited Common Elements). Association maintains Common Elemen (Sections 6.1, 6.2, 6.3)

Insurance

Property insurance on project facilities (including Units and fixtures, equipment, betterments) for replacement cost, and personal property of Association for actual cash value. Liability insurance covering occurrences for bodily injury and (Sections 22.2, 22.3, 22.4, 22.6, 22.7)

Use restrictions

Each Unit is restricted to residential use (Section 10.1(a))

Voting & meetings

Each Unit has a vote equal to its percentage interest in the Common Elements as shown on Schedule A-2 (Section 9.2(c))

Amendments

Declaration amendments require vote or agreement of Unit Owners to which at least 67% of the votes in the Association are allocated; certain amendments (e.g., restricting use/occupancy, changing boundaries to include Common Elements) requir (Sections 15.1, 15.4(b), Article XVI, 18.)

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