Lakeview Park Owners Association Inc

Key facts from Lakeview Park Owners Association Inc's documents

Reflects the 2003 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Homeowners Association (Owners Association) (Article III: Association is formed; ever)

Legal name

LakeView Park Owners Association, Inc. (Article I, definition of Association)

Developer / declarant

LAKE VIEW PARTNERS LLC, a North Carolina limited liability company (Master Declaration, first paragraph)

Governing law

North Carolina Non-Profit Corporation Act (Article I, definition of Bylaws: "in acc)

Special assessments

Allowed for extraordinary capital improvements and to recover uncollected annual assessments after foreclosure (Section 6.3)

Collections & liens

Yes; assessments become a lien; forecloseable via Special Mortgage with power of sale (Sections 6.1.2 and 7.3 through 7.4)

Voting & meetings

One vote per 1% membership interest per Exhibit C, with Lot 4 having 48 votes and Lot 2 having 1 vote; if acreage reallocation, then one vote per 1/10 acre (Sections 3.2 and 3.3)

Amendments

By Supplemental Declaration; for use restrictions (Section 8.4) requires 80% vote of Members (Sections 2.2 (annexation) and 8.4 (amend)

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