Bylaws also spelled as "by-laws" are the rules a corporation sets. They are established by board of directors during the time the corporation is being formed.
Homeowners Association.If the property is governed by a Homeowners Association (HOA), this is the place to disclose that. Include information such as where to access HOA bylaws, insurance requirements and HOA dues. Water damage.If the property’s basement only floods in the spring but the purch...
Understanding the rules and bylaws of the HOA is crucial, as these rules will govern your life in your new home. Before you make an offer on a home, take the time to read through the community’s CC&Rs to ensure you’re comfortable with them. They will outline everything from paint ...
Although the community is not a legal entity, it can sue and prosecute independently, as well as be sued and prosecuted. It meets at least once a year for the owners’ annual meeting, during which information is provided about expenses or changes to the condominium bylaws which, together ...
A private key.The applicant always keeps a private key secret and it should never be shown to anyone, including the CA A public key.This enables encryption and is mentioned in the digital certificate the CA issues. In addition to the keys, the applicant also generates a certificate signing ...
The most common example of an ex officio member is when an organisation’s bylaws state that a board president serves as an ex officio member of all committees. In this case, the board president’s participation in those committees ties to the office of the board president as opposed to bei...
Most HOA board members are volunteers and don’t receive a salary or stipend for their service. Exceptions can exist, of course, and the bylaws will stipulate when compensation is necessary. Can an HOA take your house? HOAs have the ability to place liens on a property for unpaid dues, fi...
Board resolutions are crucial for maintaining a legal record of the decisions, ensuring accountability, and protecting the board members from liability. They are essential for good governance and provide proof that the board is fulfilling its responsibilities efficiently and responsibly. ...
A safe harbor may refer to a strategy used by companies that are trying to thwart ahostile takeover. In many cases, a company will make special amendments to its charter or bylaws that become active only when a takeover attempt is announced or presented to shareholders with the goal of mak...
A C corporation or "C corp" is a legal corporate structure in which the owners or shareholders are taxed separately from the entity. C corporations are the most prevalent of corporations and they're also subject to corporate income taxation. The taxing of profits from the business is at both...