Beverly Hills (WY)

Key facts from Beverly Hills (WY)'s documents

Reflects the 1982 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

Beverly Hills Condominiums

Governing law

Condominium Ownership Act of the State of Wyoming, Section 34-20-101 et. seq., Wyo. Stat. Ann., 1977 (Declaration p.1)

Assessments & dues

Based on cash requirements determined by Association, assessed in proportion to each owner's interest in general common elements. (Declaration p.12-13)

Collections & liens

Unpaid assessments become a lien superior to all others except tax liens and first mortgages. Association may foreclose like a mortgage. (Declaration p.16-17)

Reserves & fees

Association must establish a reserve fund for maintenance, repair, and replacement of periodically replaced general common elements, funded through monthly common expense payments. (Declaration p.13)

Leasing & rentals

Yes, but not for transient or hotel purposes. Leases must be for entire unit, in writing, and subject to Declaration and By-Laws. (Declaration p.6)

Maintenance

Roof is a structural component of the building and part of general common elements, so Association maintains roof. (Declaration p.3 Definition (i))

Insurance

Fire insurance with extended coverage and all risk endorsements, vandalism, malicious mischief, boiler explosion ($50,000 minimum), flood insurance if applicable, public liability ($500,000 per injury per occurrence, $1M umbrella), workers (Declaration p.13-15)

Use restrictions

Each Unit shall be occupied and used only as a single family residential dwelling. Exceptions for Declarant's sales offices and Association office/manager residence. (Declaration p.6)

Voting & meetings

Two classes: Class A (all owners except Declarant) - one vote per unit; Class B (Declarant) - three votes per unit. Class B ceases when Class A votes equal or exceed Class B. (Declaration p.8-9)

Amendments

Requires 75% of owners representing at least 75% of general common elements and all institutional holders of first mortgages and contract sellers. Revocation requires 100% of owners and all first mortgagees/contract sellers. (Declaration p.11-12)

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