The Villas at Corolla Bay Homeowners Association

Key facts from The Villas at Corolla Bay Homeowners Association's documents

Reflects the 2010 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Legal name

The Villas at Corolla Bay Homeowners Association

Developer / declarant

Corolla Oceanside, LLC (Article I, Section 1.14; opening paragra)

Governing law

North Carolina Planned Community Act, Chapter 47F of the North Carolina General Statutes (Article I, Section 1.02)

Special assessments

Assessments levied in accordance with Article VIII, Section 8.01(2) – Special Assessment (Article I, Section 1.33)

Collections & liens

Assessments secured by lien as allowed by the Act; costs including attorney's fees may be assessed as Individual Assessment for noncompliance (Article VI, Section 6.09 (last paragraph)

Pets

Dogs, cats or other household pets may be kept, but not for commercial purposes, not creating a nuisance, and in compliance with laws and Board rules (Article VII, Section 7.03)

Leasing & rentals

The individual renting of Dwelling Units within The Villas at Corolla Bay is allowed (Article VII, Section 7.12)

Fences

Fences subject to ASC approval; no fence, wall, hedge or shrub planting that obstructs sight lines on corner lots within triangular area and within 10 feet of intersection of street property line with driveway/alley edge (Article VII, Section 7.15; Article VI, S)

Architectural approval

All construction or modification (except interior alterations not affecting exterior) including plantings or removal of plants, trees or shrubs must have written approval of ASC prior to commencement (Article VI, Section 6.02)

Home business

Allowed if: not apparent from outside, conforms to zoning, no visitors not residing on property, consistent with residential character, no nuisance/hazard. Business defined includes any ongoing provision of goods/services for fee. (Article VII, Section 7.02(1))

Signs & flags

Flags prohibited unless written approval from ASC (Article VII, Section 7.14: Prohibitive s)

Maintenance

Not explicitly stated but as part of Dwelling Unit, likely owner's responsibility; Association maintains exterior of common elements only

Insurance

Association to maintain adequate public liability insurance not less than $1,000,000 per occurrence, and property casualty/hazard insurance at minimum 100% replacement value for Common Elements (Article III, Section 3.05(d): adequate p)

Use restrictions

All Properties shall be used for only single family, non-transient residential purposes (Article VII, Section 7.02)

Voting & meetings

Two classes of membership: Class A (all Owners except Declarant) with one vote per Lot; Class B (Declarant) with three votes per Lot owned. Class B ends upon sale of 90% of Lots, September 15, 2030, or voluntary termination. (Article III, Section 3.02)

Amendments

During Declarant Control Period, no amendments to Governing Documents without Declarant's prior written consent. After control period, by majority vote of Board for Architectural Guidelines amendments. Declaration amendments not specified i (Article V, Section 5.04; Article VI, Sec)

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