Walnut Grove Apartments

Key facts from Walnut Grove Apartments's documents

Reflects the 2014 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Cooperative ("residential, co-operative development")

Legal name

Walnut Grove Road Apartments Corporation

Developer / declarant

Walnut Grove Road Apartments Corporation

Assessments & dues

Monthly Assessment established pursuant to Bylaws; Board submits budget at annual meeting for approval (Proprietary Lease Article V; Original By)

Special assessments

Any sum other than Monthly Assessment or Special Charge assessed for necessary operation, preservation, and maintenance of the Corporation or property (Proprietary Lease Article III(9))

Collections & liens

Corporation has lien on share; upon default, may repurchase stock at book value and deduct amounts owed, or proceed to sell share; member must vacate (Original Bylaws Article II(5) and (6); P)

Reserves & fees

Within 90 days after fiscal year end, Board may refund or credit to members sums collected in excess of expenses (Original Bylaws Article VII)

Use restrictions

true (Proprietary Lease Article VIII(1): "use )

Voting & meetings

Each member holding one share of stock is entitled to one vote; husband and wife as tenants by the entirety each cast one-half vote; joint tenants each one-half vote. (Original Bylaws Article II(8) and (9))

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