Bylaws of Apartment Association
Bylaws of the Apartment Association
Article I: Name and Purpose
Section 1:
Name The name of this association shall be the [Your Company Name] Apartment Association (hereinafter referred to as the "Association").
Section 2:
Purpose The purpose of the Association is to promote the health, safety, welfare, and enjoyment of the residents of the [Your Company Name] apartment complex (the "Complex") by establishing and enforcing rules and regulations governing the use and enjoyment of the Complex and its facilities.
Article II: Membership
Section 1:
Eligibility Membership in the Association shall be limited to owners and tenants of units within the Complex.
Section 2:
Voting Rights Each member shall be entitled to one vote on matters brought before the Association.
Section 3:
Membership Status Membership shall be automatic upon the acquisition of a unit within the Complex and shall cease upon the sale or other transfer of ownership of a unit.
Article III: Board of Directors
Section 1:
Composition The affairs of the Association shall be managed by a Board of Directors (the "Board") consisting of [number] members elected by the members of the Association.
Section 2:
Powers The Board shall have the authority to adopt, amend, and enforce rules and regulations governing the use and enjoyment of the Complex and its facilities.
Section 3:
Meetings The Board shall meet at least once per [frequency] to conduct the business of the Association.
Article IV: Meetings
Section 1:
Annual Meeting An annual meeting of the members shall be held each year for the purpose of electing directors and transacting such other business as may properly come before the meeting.
Section 2:
Special Meetings Special meetings of the members may be called by the Board or by written petition of [number] of the members.
Section 3:
Notice Notice of all meetings shall be given to the members [number] days in advance, stating the time, place, and purpose of the meeting.
Article V: Assessments
Section 1:
Authority The Board shall have the authority to levy assessments against the members for the purpose of funding the operation and maintenance of the Complex.
Section 2:
Basis of Assessment Assessments shall be levied on a pro rata basis based on the ownership or occupancy of each unit within the Complex.
Section 3:
Non-Payment Failure to pay assessments may result in the suspension of voting rights and access to certain facilities within the Complex.
Article VI: Use of Common Areas
Section 1:
Purpose The common areas of the Complex shall be used for the benefit of all members and their guests.
Section 2:
Regulations Use of the common areas shall be subject to such rules and regulations as may be adopted by the Board from time to time.
Section 3:
Violations Any member or guest found to be in violation of the rules and regulations governing the use of the common areas may be subject to fines or other penalties as determined by the Board.
Article VII: Amendments
Section 1:
Amendment Process These Bylaws may be amended by a two-thirds vote of the members present at a meeting called for that purpose.
Section 2:
Notice Notice of any proposed amendments shall be given to the members [number] days in advance of the meeting at which the amendments are to be considered.
Article VIII: Miscellaneous
Section 1:
Binding Effect These Bylaws shall be binding upon all members of the Association and their successors and assigns.
Section 2:
Execution These Bylaws may be executed in counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument.
Article IX: Effective Date
Section 1:
Adoption These Bylaws shall become effective upon their adoption by the members of the Association.
IN WITNESS WHEREOF, the undersigned, being the duly elected President and Secretary of the [Your Company Name] Apartment Association, respectively, hereby certify that the foregoing Bylaws were duly adopted by the members of the Association at a meeting held on [date].
[Date Signed]
