This By-Laws document for a condominium association contains information concerning: restrictions, the board of directors, and the advisary committee.
Bylaws Condo Association With Board Of Directors In Georgia
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The board of directors is the cornerstone of any association, as the guiding force responsible for ensuring smooth operations. It plays a crucial role in safeguarding stakeholders' interests and overseeing the effective functioning of every organ within the association.
Also, for the decisions made by an HOA, except for the cases provided for by Article 7(4) of this Law, the HOA members shall be liable, personally and jointly, in proportion to their share in the common property of HOA members.
The Fair Housing Act prohibits the discrimination of a homeowner based on their race, age, national origin, religion, color, familial status, or handicap. Homeowners may take legal action by filing a lawsuit against the HOA.
State Statutes and the Georgia Commission on Equal Opportunity. Several state statutes govern HOAs in Georgia. The Georgia inium Act and the Georgia Property Owners' Association Act are key laws. The Georgia Commission on Equal Opportunity ensures fair treatment in housing.
Also, for the decisions made by an HOA, except for the cases provided for by Article 7(4) of this Law, the HOA members shall be liable, personally and jointly, in proportion to their share in the common property of HOA members. The responsibility of a hired manager is determined by an agreement.
The association shall obtain: (1) A casualty insurance policy or policies affording fire and extended coverage insurance for and in an amount consonant with the full replacement value of all structures within the inium; provided, however, that the association may exclude from such coverage (A) improvements made ...
A duty of loyalty and, therefore, a fiduciary duty requires the person, the fiduciary, to always act in the best interest of the persons who have placed their trust in him or her. (See O.C.G.A. § 23-2-58.) A fiduciary's personal interests and well-being are secondary to those other persons' best interests.
The Board shall elect from its members a Chairperson and a Vice-Chairperson in January of odd numbered years. Each shall serve a term of two years, or until their successor has been elected.
The Property Owners' Association Act oversees the creation, management, authority, and functions of the HOAs in Georgia. It's important to note here that associations can be formed under the POAA or using common law principles. In such cases, this act will not apply.