Association Fees
Association Fees
15.02 Property Owners Fees - The Members shall initially determine, by a majority vote of the Association as a whole, the amount of the basic property owners' fees or dues that shall be paid annually by each Lot belonging to the Association on an equal basis per Lot. The property owners' fees or dues shall thereafter remain the same from year to year, and shall be assessed annually against the Members on an equal basis per Lot, without the need for further approvals by the Members.
If the Board or the Members at any annual or special meeting propose that the basic property owners fees or dues should be increased or decreased, said increase or decrease must be approved and ratified by a majority of a quorum of the Members attending any such annual or special meeting, except that, if any alterations to the basic property owners fee would result in a fee over $400 per year per property, then such alteration must be approved and ratified by the vote of a majority of all of the Members of the Association as a whole.
The property owners fees or dues shall be sufficient to cover all costs reasonably or necessarily incurred by the Association to carry out the provisions of Article XI and X of these Bylaws.
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15.02 Property Owners Fees - The Members shall initially determine, by a majority vote of the Association as a whole, the amount of the basic property owners' fees or dues that shall be paid annually by each Lot belonging to the Association on an equal basis per Lot. The property owners' fees or dues shall thereafter remain the same from year to year, and shall be assessed annually against the Members on an equal basis per Lot, without the need for further approvals by the Members.
If the Board or the Members at any annual or special meeting propose that the basic property owners fees or dues should be increased or decreased, said increase or decrease must be approved and ratified by a majority of a quorum of the Members attending any such annual or special meeting, except that, if any alterations to the basic property owners fee would result in a fee over $400 per year per property, then such alteration must be approved and ratified by the vote of a majority of all of the Members of the Association as a whole.
The property owners fees or dues shall be sufficient to cover all costs reasonably or necessarily incurred by the Association to carry out the provisions of Article XI and X of these Bylaws.
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