Arthur Court

Key facts from Arthur Court's documents

Reflects the 2016 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

HOA (homeowners association) – Arthur Court Association, Inc. (WHEREAS, Page 5303 – 'created the Arthur)

Legal name

Arthur Court Association, Inc. (Section 1.01.B (Page 5305))

Units / lots

35 (23 in Phase I, numbers 13-35; 12 in Additional Property, numbers 1-12) (WHEREAS, Page 5303 – subdivision into 35)

Governing law

New York Not-for-Profit Corporation Law (WHEREAS, Page 5304 (unnumbered) last par)

Assessments & dues

Board of Directors determines amount needed per budget; equal for all Lots (except Developer may pay deficit instead of full assessments on unsold Lots) (Sections 5.03, 5.04, 5.05 (Pages 5319-53)

Special assessments

Permitted; for capital improvements or unusual expenses; requires consent of 2/3 of voting Owners for construction of capital improvements or if amount >50% of annual Maintenance Assessments (Section 5.07 (Page 5321))

Reserves & fees

Required; amount not less than reasonable requirements of existing or proposed lenders/first mortgage holders (Section 5.02 (Page 5318))

Voting & meetings

As provided in the By-Laws of the Association; membership is appurtenant to Lot ownership; Developer retains voting rights as long as it owns a Lot (Sections 3.02, 3.03 (Page 5309))

Amendments

Not fully detailed; referenced as Article XII; Section 2.02 allows addition of lands with 80% approval of non-Developer Owners; Section 5.06 changes to assessment basis require 2/3 vote of non-Developer Owners; certain sections require Deve (Section 2.02 (Page 5307), Section 5.06 ()

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