Oyster Bay Condominium

Key facts from Oyster Bay Condominium's documents

Community type

Condominium

Legal name

OYSTER BAY CONDOMINIUM ASSOCIATION, INC.

Developer / declarant

L. MARSHALL ROCH and JACK OSBORN

Governing law

Chapter 718, Florida Statutes, 1976 (Article 1)

Assessments & dues

Annual budget set by Board of Directors in advance of fiscal year; assessments based on percentage shares (Article 11(A): Board of Directors shall )

Special assessments

Yes, Board of Directors may make special assessments for emergencies, repairs, replacements, or other needs (Article 11(B): Special assessments may b)

Collections & liens

Yes, association has lien for assessments per Condominium Act; includes attorney's fees (Article 11(F) and (G): Section 718.116 i)

Reserves & fees

Operating reserve limited to 15% of projected common expenses for year (Article 11(A): operating reserve not to )

Use restrictions

Yes, each apartment restricted to single family, private residential use (Article 22: Each APARTMENT is hereby res)

Voting & meetings

One vote per apartment, weighted by percentage share in common elements (Article 5: only one (1) vote for each AP)

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