|
State Enabling Statute (e.g. The Condo Act) Permits the creation of community association forms of ownership and prescribes the basis of determining ownership interest, rights and obligations of the owners, duties and powers of the association, and the process of dissolution of the condominium. May override the documents of the association.
Declaration or Master Deed Defines the units, common and limited common elements, and is the collection of covenants imposed on the property to provide for the basis for allocation of percentage ownership interest , the obligation of each owner to share in funding the cost of association operations, the power, authority, and responsibility of the association in its operations and in making and enforcing rules
Bylaws Defines the governance of the community association regarding the association operations, including delineation of the meeting process, election procedures, powers and duties, board meetings, committees, insurance requirements, rule-making and enforcement process
Rules and Regulations Sets forth the operational powers or provisions and the use restrictions adopted by the association.
Resolutions Further defines the operational powers of the Associatioon. May override/enhance the Rules and Regulations. May not alter the provisions of the bylaws. |