Linville Falls Club Property Owners Association, Inc.

Key facts from Linville Falls Club Property Owners Association, Inc.'s documents

Reflects the 2015 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Non-profit corporation – Property Owners Association (Association name and Article I, Section )

Developer / declarant

RDLG, LLC (Article I, Section 6)

Governing law

North Carolina General Statutes (Chapter 47C for Condominiums referenced) (Article I, Section 5)

Assessments & dues

Board of Directors establishes annual assessment for each category of Home Site; may be increased without member vote up to 10% or CPI increase (whichever greater) per year; beyond that requires majority vote of Class A and Class B. (Article V, Section 3(a) and (c))

Special assessments

Board may levy special assessments for capital improvements, repair, debt, etc.; must not be disapproved by 67% of entire Association at a special meeting (Article V, Section 5)

Collections & liens

Assessment is a continuing lien on the Home Site; Association may foreclose. Also personal obligation of owner at time assessment fell due. (Article V, Sections 1 and 8(e)-(f))

Reserves & fees

One-time charge not exceeding greater of $50 or 10% of unpaid assessment, if not paid within 10 days after due date (Article V, Section 8(c))

Pets

Yes – dogs, cats, other household pets allowed; no commercial purposes; no livestock or poultry (Article VII, Section 7)

Architectural approval

Yes – any improvement, landscaping, modification, or alteration requires written approval of Architectural Review Committee (Article IX, Section 1(a))

Setbacks / home size

Setback lines approved by ARC; may be modified by ARC for topography; subject to applicable zoning (Article IX, Section 3)

Use restrictions

Each Home Site used exclusively for single-family, non-transient residential purposes; no trade or business except by Declarant (Article VII, Section 1)

Voting & meetings

Two classes: Class A – one vote per Home Site transferred from Declarant; Class B – four votes per Home Site owned by Declarant (until converted). Voting suspended if assessments delinquent. (Article III, Section 2)

Amendments

Requires at least 80% of Home Sites to amend (as demonstrated for this restatement); Declarant may veto amendments while it owns at least 10 Home Sites; further amendment procedures may be in Bylaws (Witnesseth; Article III, Section 3)

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