This By-Laws document for a condominium association contains information concerning: restrictions, the board of directors, and the advisary committee.
Bylaws Condo Association With The Philippines In Riverside
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State:
Multi-State
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Riverside
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US-00452
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In the Philippines, 50 years is the lifespan of all companies and corporations, big or small. However, the corporation can still be renewed for another 50 years, so your inium ownership does not necessarily end at that point. Fact #3: Three factors need to be fulfilled to declare a inium uninhabitable.
In homeowners association cases, the Complaint shall be filed in the RAB which has jurisdiction over the region where the association is registered with the DHSUD.
SECTION 37. Association officers - Unless otherwise provided in the by-laws, an Association should have the following executive officers who shall be responsible for the management of the Association's business: president, vice-president, secretary, treasurer and auditor.
Inium Law The inium Act of the Philippines allows Filipino citizens and businesses to buy iniums. Foreigners, on the other hand, are limited to owning no more than 40% of a corporation's entire and outstanding capital stock, which must be Filipino-owned and controlled.
— Every association of homeowners shall be required to register with the HLURB. This registration shall serve to grant juridical personality to all such associations that have not previously acquired the same by operation of the General Corporation Law or by any other general law.
In homeowners association cases, the Complaint shall be filed in the RAB which has jurisdiction over the region where the association is registered with the DHSUD. (Rule 2, Section 7, Rules of Procedure of the Human Settlements Adjudication Commission).
Complaint with the Housing and Land Use Regulatory Board (HLURB): If internal remedies are unsuccessful, the inium corporation may file a formal complaint with the HLURB (now integrated under the Department of Human Settlements and Urban Development or DHSUD).
Association dues can be pretty pricey depending on the amenities and size of other facilities your condo offers. For example, the association dues for high-end condos start at P90 per square meter or higher. On the other hand, dues for low and mid-end condos can range from P35 to P65 per square meter.
As an additional recourse, the buyer may file a formal complaint before the Regional Adjudication Branch (RAB) of the Human Settlements Adjudication Commission (HSAC), the quasi-judicial agency mandated to resolve issues and cases relating to the implementation of the mandates of the DHSUD.