North Lake Condominium

Key facts from North Lake Condominium's documents

Community type

condominium (Section 1.10; Section 2.1)

Legal name

North Lake Condominium

Governing law

Common Interest Ownership Act (CIOA), Connecticut General Statutes Sections 47-202 to 47-299 (Opening paragraph; Section 1.6)

Assessments & dues

Board adopts budget after providing summary to Unit Owners; meeting or ballot within 60 days; if rejected by majority of allocated interests, previous budget continues. (Section 17.4)

Special assessments

Board may propose; notice within 30 days; meeting within 10-60 days; rejected if majority of allocated interests vote to reject. Emergency special assessment by 2/3 Board vote effective immediately. (Section 17.5)

Collections & liens

Association has statutory lien; foreclosure allowed if sum equals at least 6 months assessments, demand, Board vote or standard policy, compliance with CIOA. (Section 17.3)

Reserves & fees

Common Expenses include allocations to reserves; surplus at end of fiscal year added to reserves. (Section 1.9(f) and Section 17.12)

Home business

Allowed if no employees, no regular public visits, no unreasonable levels of mail, shipping, trash, or storage, and no commercial sign outside. (Section 9.1(a))

Use restrictions

Each Unit restricted to residential use as a single-family residence including home occupations not involving employees, regular public visits, unreasonable mail/shipping/trash/storage. No sign indicating commercial use outside. (Section 9.1(a))

Voting & meetings

Each Unit has vote equal to its Allocated Interest percentage shown on Schedule A-2; Directors each have one vote on Board matters. (Section 1.40)

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