St. Thomas Lane Condominium Association

Key facts from St. Thomas Lane Condominium Association's documents

Community type

Condominium

Legal name

St. Thomas Lane Condominium Association

Developer / declarant

Jacobs Design Homes LLC

Governing law

Wisconsin Condominium Ownership Act, Wisconsin Nonstock Corporation Law (Article 13.02 ("subject to all provision)

Assessments & dues

Based on annual operating budget adopted by Board during Declarant control, or by unit owners holding at least 51% of votes present at annual meeting after control expires. Budget effective Jan 1 – Dec 31. (Article IX, 9.02)

Special assessments

May be levied by Board of Directors for purposes enumerated in the Declaration. Due and payable as designated by Board. (Article IX, 9.04)

Collections & liens

Association may file statement of condominium lien, enforce and foreclose, or bring action for money damages without waiving lien. No waiver or escape by nonuse or abandonment. (Article IX, 9.05)

Reserves & fees

Statutory reserve account required if maintaining under Wis. Stat. 703.163. Funds collected for repairing/replacing common elements (not routine maintenance). Must be held in separate segregated account. May be invested only as allowed by l (Article IX, 9.07)

Leasing & rentals

Unit owners may rent their unit up to six weeks per year for short-term rental. (Article X)

Architectural approval

Architectural Review Committee mentioned only in definition of 'director or officer' for indemnification purposes; no specific ARC approval process detailed in these Bylaws. (Article XII, 12.01(b) ("member of the Ar)

Voting & meetings

Each unit has votes as provided in Declaration. Multiple owners may designate one voter; otherwise votes proportionally. No vote if Association has recorded a condominium lien on the unit and amount to release not paid. (Article II, 2.11, 2.12 (2.07/2.12))

Amendments

Bylaws may be amended only with assent of at least 75% of votes of unit owners. While Declarant owns any unit and condominium subject to expansion, no amendment effective without written consent of Declarant. (Article XIV)

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