A set of formal documents filed with a government body to legally document the creation of a corporation. Articles of incorporation must contain pertinent information such as the firm’s name, street address, agent for service of process, and the amount and type of stock to be issued.
HOA bylaws are governing guides. Bylaws are supposed to be about the government of the corporation. They should cover things like how often you have meetings, how many people are on the board, how often you have to have membership meetings, and what’s a quorum.
If you buy a home (such as a single-family home, condo, or townhome) in a planned, covenanted community, you will most likely be required to be part of a homeowners’ association (HOA). The rules of the HOA community are set forth in what is called the Declaration of Covenants, Conditions, and Restrictions (CC&Rs).
A statement of all the covenants, conditions, and restrictions (CC&Rs) that affect a parcel of land. When recording the subdivision plat, restrictions may be noted on the map or plan or, if numerous, on a separate document called a declaration.
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