Greystone Homeowners Association, Inc. (GA)

Key facts from Greystone Homeowners Association, Inc. (GA)'s documents

Reflects the 1995 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Homeowners Association (not a condominium) (Article: "This document does not and is )

Developer / declarant

The Knight Group, Inc., a Georgia corporation (Opening paragraph; Section 1.11)

Governing law

Not subject to Georgia Condominium Act (O.C.G.A. Section 44-3-70) or Georgia Property Owners' Association Act (O.C.G.A. Section 44-3-220) (Article paragraph after the recitals)

Assessments & dues

Board prepares annual budget covering estimated Common Expenses and sets General Assessment at a uniform rate for all Units; budget becomes effective unless disapproved by at least 67% of Members and Class B Member (Section 8.3)

Special assessments

Requires affirmative vote or written consent of Members representing at least 51% of total Class A votes and the Class B Member; levied equally on all Units (Section 8.5)

Collections & liens

Association has a lien against each Unit to secure payment of delinquent assessments, interest, late charges, costs and attorneys fees; superior to all liens except taxes and first mortgages; enforceable by suit, judgment, and foreclosure l (Section 8.7)

Reserves & fees

Board annually prepares a reserve budget taking into account replaceable assets and expected life/cost; sets required capital contribution via General Assessments (Section 8.4)

Leasing & rentals

Leasing is allowed; no rule may prohibit leasing or transfer or require consent, but Association may require minimum lease terms and use of approved lease forms, and impose fee based on reasonable costs (Section 10.4(f))

Architectural approval

Application deemed approved if Declarant or Modifications Committee fails to approve or disapprove in writing within 30 days after submission of all requested information; deemed approval must not conflict with Design Guidelines unless vari (Section 9.3(b))

Use restrictions

Initial Use Restrictions and Rules attached as Exhibit C; may be modified by Board or Membership with approval of at least 51% of Class A votes and Class B Member, subject to limitations in Section 10.4 (Section 10.2)

Voting & meetings

Two classes: Class A (all Owners except Declarant) with one vote per Unit; Class B (sole Member is Declarant) with right to appoint majority of Board during Class B Control Period (Section 3.3)

Amendments

Amendment governed by Section 15.2 (text not provided in excerpt), but referenced in Table of Contents (Section 15.2)

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