Madison River Ranch Association Inc

Key facts from Madison River Ranch Association Inc's documents

Reflects the 2009 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Limited seasonal recreational area (Article I, Section 1.1)

Governing law

Montana Non-Profit Corporation (implied) (Association defined as nonprofit Montana)

Assessments & dues

Determined by Board of Directors pursuant to Bylaws; not fixed in document (Section 7.3)

Special assessments

May be levied; if exceeds 5% of budgeted gross expenses, must be approved by majority vote of Owners at a meeting (Section 7.4)

Collections & liens

Assessment creates a lien on the Tract; may be foreclosed after 30 days notice recorded in Madison County (Sections 7.1, 8.2, 8.3)

Reserves & fees

Association may impose a late charge in a sum to be determined (Section 8.1)

Pets

Yes, domestic pets (Section 6.1)

Signs & flags

Only allowed: construction sign (max 9 sq ft), for sale sign (max 9 sq ft), identification/direction signs approved by Board, and signs required by law (Section 6.5)

Use restrictions

Tracts used primarily for single-family residential; no more than 2 residences per tract; business uses prohibited except home office with no regular public visits (Section 6.4)

Voting & meetings

Each Tract owner has one vote; votes counted per Tract (Section 9.1 (51% of Tracts); Section 7.4)

Amendments

Requires written instrument executed by owners of not less than 51% of Tracts; Section 4.2 requires 85% for changes; mortgagee consent needed if mortgage recorded prior (Section 9.1)

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