Board of Managers
Important information for new and current Home Owners
The bylaws set forth the statutes the condo owners are governed by; they are set up to protect the interest of the owners. The bylaws provide the instructions for the Board of Managers (BOM).
The bylaws for each phase note the phases (I, II, & III) agree to “act jointly and manage collectively” by delegating “authority to a joint Board of Managers” to consist of three representatives from each phase. The bylaws state: “the property and business of the Condominium shall be managed by its Board of Managers”. The bylaws outline the board officers and their responsibilities.
The powers assigned to the BOMs includes but is not limited to:
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Determine and levy monthly assessments (aka common charges)
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To use the assessment to maintain, care for and preserve the homes, units and common elements
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To make repairs
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To enter homes when necessary
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To open bank accounts
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To insure the common elements and buildings
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To collect delinquent assessments
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To purchase a condo at a foreclosure sale (or acquire a condo and make repairs or renovate)
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To make reasonable rules and regulations and to amend the same from time to time
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To employ staff
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To bring and defend legal action by or against more than one HO (pertinent to the operation of the condo)
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To appoint committees
