Marshes Light Marina Slip Owners' Association, Inc.

Key facts from Marshes Light Marina Slip Owners' Association, Inc.'s documents

Reflects the 2008 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (dockominium) (Title and Article 2.1)

Developer / declarant

Marshes Light LLC, a North Carolina limited liability company (Background Statement)

Governing law

North Carolina Condominium Act (Chapter 47C of the North Carolina General Statutes) (Article I, Section 1.1; Article 2.1)

Assessments & dues

Not fixed; determined by Association for Common Expenses (Sections 7.1, 7.3)

Special assessments

Permitted for capital improvements, emergency, or other purposes as per Section 7.5 (Section 7.5)

Collections & liens

Association has a lien for unpaid assessments and may foreclose; remedies include filing liens (Section 7.7) and priority of lien (Section 7.8) (Sections 4.6, 7.7, 7.8)

Reserves & fees

Capital Improvement Fund established and maintained from Annual Assessments for periodic repair/replacement of Common Elements (Sections 4.12, 7.4)

Leasing & rentals

Yes; Slips may be leased (Section 10.15). Community Slips shall not be rented; Public Slips may be leased to general public (Section 1.47) (Sections 1.47, 4.16, 10.15)

Architectural approval

Yes; changes require approval under Section 10.2; also subject to Master Association's Architectural Review Board (Sections 10.2, 3.8)

Use restrictions

Recreational use only for slips; commercial use prohibited except short-term dockage for Water Taxis and Market Boats with permits (Sections 1.10 (Community Slips), 1.47 (P)

Voting & meetings

One vote per Slip (Section 4.3)

Amendments

Amendments may be proposed by Association (Section 18.1), by Declarant (Section 18.2), or require Declarant consent (Section 18.3) (Article XVIII)

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