BY-LAWS, Section 5. Duties. The Board of Directors shall have the following duties:
1. To cause to be kept a complete record of all its acts and corporate affairs and to present a statement thereof to the members at the annual meeting of the members.
2. To establish the annual assessment period and fix the amount of the annual assessment against each member for each Lot owned, all in accordance with the terms of the Declaration and these By-Laws and to bring an action at law against the Owner or other person personally obligated to pay the same.
Section 5.3 Maximum Regular Yearly Assessments.
(a) Until January 1 of the year immediately following the conveyance of the first Lot to an Owner, the maximum Regular Yearly Assessment on any Lot shall be $120.00 per Lot per year.
(b) From and after January 1 of such year, the maximum Regular Yearly Assessment may be increased each calendar year not more than 10% above the maximum Regular Yearly Assessment for the previous year, without a vote of the membership.
(c) From and after January 1 of such year, the maximum Regular Yearly Assessment may be increased each calendar year by more than 10% above the maximum Regular Yearly Assessment for the previous year, with the approval of two thirds (2/3) of those members of each class of members who cast votes in person or by proxy at a meeting duly called for this purpose.
(d) The Board of Directors from time to time may fix the Regular Yearly Assessment, without any vote of the membership, at any amount not in excess of the maximum.
According to the terms of the Declaration and the By-Laws, can any member in the River Run Homeowners Association show me where I or any other member in the River Run Homeowners Association is obligated to pay a $155.00 assessment for 2010???
SHOW ME that is all I ask. That is some of the information I wanted when I sent my payment of $84.15 in. What do the Board of Directors do? Instead of asking me what information I wanted, they turned it over to a collection agency, with your name on it.
Leathel,
