Ocean Crest Property Owners Association

Key facts from Ocean Crest Property Owners Association's documents

Reflects the 1993 governing documents — figures and rules are as originally recorded and may have changed since.

Developer / declarant

Vivian Jenkins, Charles M. Jenkins, Jr., Yolanda Jenkins (Article II, Section 4(h))

Governing law

North Carolina Non-Profit Corporation Act (the "Act") (Article XVIII, Section 2)

Assessments & dues

Board of Directors prepares annual budget, determines Common Charges, and allocates among Members per Declaration (Article X, Section 1)

Collections & liens

Unpaid assessments become a lien on the Lot/Dwelling Unit; Association may foreclose; also may recover by money judgment without waiving lien (Article III, Section 2; Article X, Secti)

Reserves & fees

Surplus construction funds after repairs become part of replacement reserve (Article XIV, Section 6(b))

Leasing & rentals

Yes; portion less than whole Lot or Dwelling Unit shall not be rented; lease must be in writing; tenants subject to Bylaws and Declaration (Article XI, Section 1(f))

Home business

Home professional pursuits without employees or regular visits by the public are allowed (Article XI, Section 1(a))

Use restrictions

Dwelling Units shall be used for residential purposes only (Article XI, Section 1(a))

Voting & meetings

Majority of votes cast at a meeting where quorum is present is binding, unless higher percentage required (Article VI, Section 2)

Amendments

Bylaws may be amended at any duly called meeting of Members with (a) notice stating substantial amendment, (b) Board approval, (c) if binding on mortgagees, approval by holders of 51% of mortgaged Lots/Dwelling Units, (d) consistency with D (Article XIX, Section 1)

Amenities

Recreational Facilities and Beach Access are provided as Common Properties (Article II, Section 4(b), (r); Article I)

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