This By-Laws document contains the following information: the name and location of the corporation, the shareholders, and the duties of the officers.
Bylaws Of Homeowners Without A Board In Collin
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State:
Multi-State
County:
Collin
Control #:
US-00444
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Word;
Rich Text
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FAQ
Disclosure Requirements Disclosure is mandated by law, often through public records and real property records. Before purchasing a home, buyers must receive a set of documents detailing the HOA's health, such as its covenants, conditions, restrictions, bylaws, rules, and financial statements.
The absence of an HOA board can result in significant risks, including financial mismanagement, where bills go unpaid and dues are uncollected, leading to financial instability. Residents and city officials can also bring about legal actions against the HOA, resulting in expensive court actions.
Texas law places limits on HOA power, including restrictions on their ability to prohibit certain types of construction like solar panels and rules against unreasonable fines or foreclosure practices. The exact limitations are outlined in state statutes, which are intended to protect homeowners' rights.
Notably, Texas HOA's with 60 or more lots are legally required to have an HOA Website, ensuring transparency and accessibility for all members. The HOA Website Law in Texas is designed to facilitate better communication and provide a centralized location for important association information.
House Bill 614 guarantees your right to a hearing before the HOA board to contest the violation or the proposed fine. This ensures a fair and transparent process where you can voice your concerns and advocate for your interests.
Depending on the organizational form of the entity, however, the home or property owners' association may not be required to register with the secretary of state.
There must be at least three people on the Board of Directors. If an association's governing documents do not state how many people must serve on the Board of Directors, Texas law says that the number will be equal to the initial number of directors listed in the Articles of Incorporation.