by=laws

Started by MikeW2 • 2 replies • 2154 views

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MikeW2 (North Carolina)
Posts: 2

Posted:

we are starting a poa that has 51 lots with 29 homes.the only reason we need the poa is the developer set up restrictive covenants stating that we had to have a poa before he would sign the roads over to us.we have a real good restriction agreementthat runs with land by whom-soever owned .we plan to turn the roads over to the state for upkeep .when the state takes the roads over we will close down the poa .we would like some ideas on some simple by-laws. thanks [email protected]

CharlesW1 (Georgia)
Posts: 826

Posted:

MikeW2,

I hope to be making some sense of this all. I would like to know why you plan on switching back to a HOA once the POA is established? My community is establishing themselves as a POA now. I have read that the majority of HOA would like to be POA. What have to been told or what have you read that would indicate to you not to continue being a POA?

I have been told numerous good things come with being a POA. One being that the By-laws (I believe) will never expire. As of right now the By-laws (I believe) will expire in 30 years. I know it (takes 2/3 of all homeowners that are current of the assessments) to approve of such switch. I know are sub-division is completely built out and it has been so for the past 5 years. Question for you, maybe some people may already know this. I do not though. We need 2/3 approval from the total eligible voters to make the switch. How would that work for your community? You had said that you have 51 lots and 29 homes. Are these 29 homes already built and are being lived in? Would you need 2/3 of the 29 or would you need 2/3 of the 51? There are all kinds of benefits to an HOA to go POA, so I’ve heard!
Please inform me of the disadvantages of being a POA. I would like to consider the advantages to disadvantages.

This site may better inform you as well.

http://swagman.typepad.com/poa_governance/2006/07/service_provide.html

Chuck W.

Charles E. Wafer Jr.

RogerB (Colorado)
Posts: 5,067

Posted:

Mike, your comments make no sense. Why start a POA with plans to terminate it? As far as dedicating the roads this can be done by the Developer. I think the Developer has an alterior motive.

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