Suite 16

Key facts from Suite 16's documents

Reflects the 2020 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

ASSOCIATION OF UNIT OWNERS OF SUITE 16, A CONDOMINIUM

Governing law

Montana Unit Ownership Act (Section 1: 'submitted to the provisions )

Assessments & dues

Board of Directors determines budget and assessment at least annually; 30 days after adopting budget Board shall mail summary to owners (Article VII Section 3)

Special assessments

Board may establish separate assessments for capital improvements to common elements and maintain separate accounts (Article VII Section 4)

Collections & liens

Association has lien for unpaid assessments; lien includes interest, late charges, attorney fees, costs; notice of claim of lien must be recorded before foreclosure suit; lien prior to homestead except tax/assessment liens and first mortgag (Article VII Section 8; Article VIII Sect)

Reserves & fees

Reserve account equal to at least one year of common expenses (Article VII Section 2(d))

Leasing & rentals

Yes, but no unit shall be rented except in accordance with written permission granted by Board; Association may promulgate rules regulating rental and leasing (Article IX Section 2(a))

Parking & vehicles

Each unit owner must maintain parking space(s) assigned to his unit as limited common elements in clean, safe, attractive condition (Article IX Section 1(c))

Architectural approval

Unit owner shall make no repair or alteration which would jeopardize soundness/safety, reduce value, impair easement, or increase common expense unless consent of all affected unit owners is first obtained (Article IX Section 2(b))

Home business

Unit owner may maintain professional personal library, keep personal business records, handle personal business calls, or occasionally confer with associates in unit; no commercial activities otherwise (Article IX Section 4(g))

Maintenance

Owner responsible for cleaning, heating, repair within own unit; Association responsible for maintenance/repair/replacement of general and limited common elements as common expense (Article IX Section 1(a), (e))

Insurance

Board may adjust the deductible as permitted by Act and approved by majority of unit owners if amendments to Bylaws required (Article X Section 8)

Use restrictions

Units shall be used for residential purposes only; no commercial activities without Board written consent (Article IX Section 2(a))

Voting & meetings

Majority vote means 50% of total authorized votes allocated to units; if unit owned by two or more persons, vote may be exercised by any one owner unless another co-owner protests (Article II Section 2 and Section 3)

Amendments

Bylaws may be proposed by any director or at least 50% of unit owners; approval requires 75% of unit owners (Article XIII)

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