Laurie Meadows Subdivision Homeowners Association

Key facts from Laurie Meadows Subdivision Homeowners Association's documents

Reflects the 2004 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Homeowners Association (Art I Sec 1 (Association definition))

Developer / declarant

LNC Land Development, LLC and Rick Stevens Builder, Ltd; later amendments by LNC Land Development, LLC only (Preamble & Art I Sec 6; Annexation Agree)

Governing law

North Carolina Nonprofit Corporation Act (N.C. Gen. Stat. §55A) (Bylaws Art VI Sec 1 & Art X)

Assessments & dues

Maximum $100 per lot until January 1 of the year after first lot conveyed; thereafter amount set by Board or 2/3 vote of members. (Art IV Sec 3)

Special assessments

Allowed for capital improvements on Common Area; requires assent of two-thirds of votes of each class at a meeting with notice. (Art IV Sec 4)

Collections & liens

Assessment is a continuing lien on the lot; Association may foreclose the lien. Lien subordinate to first mortgage. Foreclosure extinguishes prior assessment liens. (Art IV Sec 1, 8, 9)

Pets

Yes, maximum of two household pets. No animals or poultry other than household pets. (Art XIII)

Leasing & rentals

Not explicitly prohibited; owners may delegate right of enjoyment to Common Area to tenants who reside on property. (Art II Sec 2)

Architectural approval

Yes, for any building, fencing, wall, structure, hedging, or mass planting. Committee designated by Declarant. (Art VI)

Signs & flags

Only 'For Sale' or 'For Rent' signs allowed. (Art XI)

Setbacks / home size

Not to exceed basement plus two and one-half stories. (Art V)

Voting & meetings

Class A (owners except Declarant): one vote per lot. Class B (Declarant): three votes per lot until Class A votes equal Class B or Jan 1, 2006. (Art III Sec 2)

Amendments

Covenants automatically extend for successive 10-year periods after Jan 1, 2015 unless a majority of lot owners vote to change. Specific amendments may be recorded by all lot owners (as in First Amendment). (Art XVIII; First Amendment preamble (by )

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