The Lakes Homeowner’s Association, Inc.

Key facts from The Lakes Homeowner’s Association, Inc.'s documents

Community type

exclusive single family subdivision (Article II, page 4)

Legal name

The Lakes Homeowner’s Association, Inc.

Governing law

Non-Profit Corporation Law of Louisiana (Section 8.01)

Assessments & dues

Initial annual assessment $500.00 per year per Lot/Dwelling. (Section 9.03)

Special assessments

Levy approved by Declarant (if owning for sale) and majority of Owners at meeting. Also for casualty/condemnation (Sections 6.02, 7.01). (Section 9.04(a))

Collections & liens

Assessments are a real obligation and lien. Association may foreclose and bid at sale. (Sections 9.02, 9.07, 9.08)

Reserves & fees

Association may establish reserve fund for maintenance, emergencies, contingencies. (Section 9.03(x))

Architectural approval

Architectural Review Committee (ARC) must approve exterior and structural improvements, additions, changes. Also landscaping near Conservancy Area. (Section 1.01(a), 5.01, Article X, 3.14)

Maintenance

Owner maintains Lot/Dwelling and improvements. Association maintains Common Areas (Gatehouse, roads, walks, recreational areas, lakes, etc.). If owner fails, Association may do work and charge owner. (Section 5.01, 5.02)

Insurance

Association must obtain property insurance on Common Area improvements (fire, extended coverage, flood, vandalism - full replacement cost) and public liability coverage. Also workers' comp and officers/directors liability. (Section 6.01, 8.07)

Use restrictions

All Lots restricted exclusively to residential use. (Article II, page 4)

Voting & meetings

Class A (all Owners except Declarant): one vote per Lot. Class B (Declarant): votes equal to one more than total Class A votes, reduced to one vote per Lot when Class A owns 4x or more Lots. Control passes to Class A by 120 days after 100% (Section 5.03)

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