Stoneriver Community Association Inc

Key facts from Stoneriver Community Association Inc's documents

Reflects the 2022 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

HOA (planned community association) (Section 1.1: planned residential communi)

Legal name

StoneRiver Community Association, Inc. (Section 2.1.7, page 2)

Developer / declarant

AC Knightdale Investments, LLC and AC Knightdale Investments II, LLC (collectively 'Declarant') (Opening paragraph, page 1)

Governing law

North Carolina Planned Community Act, N.C.G.S. § 47F-1-101, et seq. (Article 1.1, page 1)

Assessments & dues

Board prepares budget, sends summary to Owners, holds meeting, ratification by 75% of Lots (Section 6.2.4-6.2.5)

Special assessments

Allowed for unbudgeted or excess expenses; requires >50% vote of affected members and Declarant consent during control period (Section 6.3)

Reserves & fees

Required: budget must include reasonable contribution to reserve fund for repair and replacement of capital items. (Section 6.2.1, page 15)

Leasing & rentals

Yes; no prohibition but may restrict multiple lots by same owner and require minimum lease term up to 12 months; may require use of approved lease forms (Section 7.4.8)

Architectural approval

Yes, for any structure or improvement (including landscaping and exterior alterations) except repainting to original colors or rebuilding per approved plans; flags and political signs exempt (Section 8.1)

Signs & flags

US flag and North Carolina flag allowed; max size 4 ft x 6 ft; displayed in accordance with 4 U.S.C. Sections 5-10 (Section 7.4.3)

Maintenance

Association maintains Area of Common Responsibility including Common Area, streets, landscaping, streetlights, stormwater facilities, cluster mailboxes, etc. (Section 5.2). Owners maintain their Lots (Section 9.2 not fully provided). (Section 5.2, pages 7-8; Section 9.2, pag)

Insurance

Reasonable deductible; treated as Common Expense unless caused by negligence of Owner (Section 5.4.2(a))

Use restrictions

Implied; restrictions limit activities to those normally associated with residential use (Section 7.4.6)

Voting & meetings

Class A Members: one vote per Lot. Class B Member: consent rights for various actions; appoints majority of Board during Declarant Control Period. (Sections 4.3.1, 4.3.2, pages 6-7)

Amendments

By Declarant unilaterally during control period; by members with 67% Class A vote; Declarant consent during control period (Article XIX)

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