Lake of Woods II

Key facts from Lake of Woods II's documents

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

Community type

homeowners_association (1.02(A) - any legal owner or co-owner of)

Legal name

Lake of the Woods III Association

Governing law

Ohio Nonprofit Corporation Law (4.04(B) - Ohio Nonprofit Corporation Law)

Assessments & dues

Board adopts budget at least annually; common expense liability allocated equally among all lots; Board assesses each lot based on budget. (1.03(B), 1.03(C), 5.01(B), 5.01(C))

Collections & liens

Association has lien on lot for unpaid assessments and charges effective when certificate of lien filed; valid 5 years; prior to later liens except real estate taxes and first mortgages; may be foreclosed like mortgage; Association may beco (5.05)

Reserves & fees

Administrative late fees are chargeable (applied second in credit order). (5.03(B)(2))

Voting & meetings

Each member one vote per lot or fraction thereof; if multiple co-owners, vote divided; member delinquent >30 days not entitled to vote and their lots excluded from total; majority of members present (in person or proxy) decides unless other (2.03, 2.05(A), 2.05(B))

Amendments

Amendments require approval by 3/4 vote of lots represented by members present (in person or proxy) at a meeting with quorum; effective when filed with county recorder. (VIII(A))

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