Atlantic Yacht Club

What Atlantic Yacht Club's governing documents say

Atlantic Yacht Club is a boat storage membership community in Wilmington, NC — you own a membership tied to a specific dry boat storage space (one of 158), not a home or lot. The association (a non-profit corporation) maintains the property and common facilities, and members share use of parking, launching services, and other amenities.

• What you own & maintain: You own a membership that gives you exclusive use of a numbered boat storage space and shared use of common property (parking, in/out and launching services). The association maintains all corporate property, including the storage facility and pier, and may charge members for maintenance dredging costs.
• Assessments & fees: Regular assessments are set by the Board and payable no more often than monthly. Special assessments over $1,000 per membership per year require approval by a majority of members at a meeting with a two-thirds quorum. The Board may also levy a $500 assessment per occurrence for rule violations.
• Leasing & rentals: Members may license their membership rights to a licensee with Board approval (not to be unreasonably withheld). During the license, the licensee has use rights, but the member retains the vote. The Board may also collect rents paid by a licensee to the member.
• Voting & governance: Each membership has one vote. Licensees do not vote; voting is reserved for the member/owner. Proxies are allowed for up to one year. The Board of Directors (Board of Commanders) is elected by members per the Bylaws.
• Architectural review: No building, fence, wall, sign, or other structure may be erected on association property without written approval from the Developer (not the association). The Developer has sole discretion over design, colors, materials, and grading. No alterations to exterior appearance or grade are allowed without prior approval.
• Use restrictions: No obnoxious or offensive activity, no public or private nuisance, and no loitering on association or Developer's pier property. The Board may adopt and enforce reasonable rules and regulations, which must be recorded and available for member inspection.
• Parking & vehicles: Members have the right to use designated parking areas and must comply with Board-published parking regulations, including displaying parking permits. Overflow parking is available on Developer's Tract C when the main lot is full.
• What this document doesn't cover: This is a declaration of covenants for a boat storage membership community, not a residential HOA or condominium. It does not cover residential use, pet restrictions, age restrictions, or rental of dwellings. The document is partial (OCR'd, truncated) and references Bylaws and Rules that are not included here.

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.