Declaration of Horizontal Property Section 12

JRCAI Home Page | Board of Directors | Financial Reports | By-Laws | Declaration of Horizontal Property | Meeting Minutes | F A Q | Policies | Rental  Pool | What’s New...

12. Association of Owners

 

In order to provide for the maintenance, repair, replacement, administration and operation of the Common Areas and Limited Areas and in compliance with the provisions of the Act, an Indiana not-for-profit corporation has been formed, having eh name Jamison Residential condominiums Association, Inc., which not-for-profit corporation is referred to in this Declaration and the By-Laws s the "Association". Each Owner shall be a member of the association, but membership shall terminate when such person ceases to be an Owner, with that Owner's membership and all rights in the Association transferred to the new Owner upon delivery of the deed conveying that Owner's Unit.

 

The Association shall elect a Board of Directors annually in accordance with and as prescribed by the By-Laws. An initial Board of Directors appointed by the Declarant shall serve until such time as provided in the By-Laws, at which time the Owners shall elect a Board of Directors. The Owners shall be entitled to cast their vote for the election of the Board of Directors (except for the initial Board of Directors) with each Unit having a vote reflecting its Percentage Vote.

 

The Board of Directors shall be the governing body of the Association, representing all of the Co-Owners in providing for the management, maintenance, repair, replacement and upkeep of the Common Areas and Limited Areas.