Keith Street Cottages

Key facts from Keith Street Cottages's documents

Reflects the 2019 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

KEITH STREET COTTAGES CONDOMINIUM ASSOCIATION, INC.

Units / lots

18 initial units; may be increased by Declarant (Master Deed Art 3.01 'initially consists)

Governing law

Tennessee Horizontal Property Act (T.C.A. Section 66-27-101, et seq.) (By-Laws Art I Sec 1; Master Deed Art 1.0)

Assessments & dues

Determined by Board budget; not a fixed amount in document (By-Laws Art VII Sec 3)

Special assessments

Two-thirds vote of those present for inadequate budget; majority of members for capital improvements (By-Laws Art VII Sec 4(a) and (b))

Collections & liens

Assessments create a lien as set out in Master Deed Article 6.06 (reference only) (By-Laws Art VII Sec 2; Master Deed Art 6)

Reserves & fees

Capital reserve budget prepared annually; includes number and nature of replaceable assets, expected life, required contribution; distributed to members (By-Laws Art VII Sec 5)

Architectural approval

Submit plans in writing; Board or designee has 60 days to approve/disapprove; if no action within 60 days, approval deemed given (By-Laws Art VI Sec 4)

Insurance

Reasonable deductibles allowed; amount added to face amount for coverage determination; deductible paid by person responsible for repair in absence of insurance (By-Laws Art VI Sec 2 and Sec 6(c))

Voting & meetings

One vote per unit; original Developer has three votes per unit as per Master Deed (By-Laws Art I Sec 3 and Sec 4; Master De)

Amendments

By-Laws may be amended by affirmative vote, written consent, or combination of at least two-thirds of total Association vote; notice of meeting must state subject; amendment effective when recorded in Bradley County records (By-Laws Art IX Sec 8)

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