M100 COMMUNITY ASSOCIATION REVIEW ALL
STUDY EXAM QUESTIONS AND ANSWERS SURE
A+
✔✔Articles of Incorporation - ✔✔Brings corporation into existence.
Coops must incorporate because the the corporation owns all the property.
Other types of communities may incorporate.
✔✔Benefits of incorporating - ✔✔Limit liability of individual owners.
Right granted all corporations
Easier to deal with utility companies, vendors, etc.
✔✔Bylaws - ✔✔Formally adopted regulations for the administration and management of
a community association.
- Meeting procedures including voting rights
- Board powers and duties
✔✔Board Resolutions - ✔✔A motion that follows a set format and formally adopted by
the board.
✔✔Public Offering Statement - ✔✔Provides association information to first prospective
buyers in community.
Required by state statute.
, Not considered a governing document.
✔✔Types of Resolutions - ✔✔Policy - Affects owners' rights and obligations.
Administrative - Addresses the internal operations of community association.
Special - Apply a policy or rule to a specific individual.
General - Routine events.
✔✔Criteria for Valid Rules - ✔✔Must not violate constitutional rights.
Must be consistent with laws, statutes, governing docs.
Must reasonably relate to purpose of community.
Must be reasonable and fair.
Must be capable of uniform enforcement.
Must be necessary.
✔✔Resolution Format - ✔✔Purpose
Authority
Scope & Intent
Specifications
✔✔Due Process Procedure - ✔✔A formal process to protect the rights of all parties.
✔✔Alternative DIspute Resolution (ADR) - ✔✔3rd party resolution used before
lawsuit/court
✔✔Internal Resources for Enforcing Rules - ✔✔Suspension of voting rights
Suspension of recreational facility usage
Fines
Eviction
Self help
✔✔External Resources for Enforcing Rules - ✔✔Local Health Department
Local Zoning Department
Local Fire Department
Local Police Department
Local Building Department
Local Animal Shelter
✔✔Sources of Budget Requirements - ✔✔Federal Laws
State Statutes
Local Laws
Governing Documents
✔✔Name Two Main Budget Components - ✔✔Revenue & Expenses
Revenue - Owner assessments, Interest, late fees, fines, usage fees.
STUDY EXAM QUESTIONS AND ANSWERS SURE
A+
✔✔Articles of Incorporation - ✔✔Brings corporation into existence.
Coops must incorporate because the the corporation owns all the property.
Other types of communities may incorporate.
✔✔Benefits of incorporating - ✔✔Limit liability of individual owners.
Right granted all corporations
Easier to deal with utility companies, vendors, etc.
✔✔Bylaws - ✔✔Formally adopted regulations for the administration and management of
a community association.
- Meeting procedures including voting rights
- Board powers and duties
✔✔Board Resolutions - ✔✔A motion that follows a set format and formally adopted by
the board.
✔✔Public Offering Statement - ✔✔Provides association information to first prospective
buyers in community.
Required by state statute.
, Not considered a governing document.
✔✔Types of Resolutions - ✔✔Policy - Affects owners' rights and obligations.
Administrative - Addresses the internal operations of community association.
Special - Apply a policy or rule to a specific individual.
General - Routine events.
✔✔Criteria for Valid Rules - ✔✔Must not violate constitutional rights.
Must be consistent with laws, statutes, governing docs.
Must reasonably relate to purpose of community.
Must be reasonable and fair.
Must be capable of uniform enforcement.
Must be necessary.
✔✔Resolution Format - ✔✔Purpose
Authority
Scope & Intent
Specifications
✔✔Due Process Procedure - ✔✔A formal process to protect the rights of all parties.
✔✔Alternative DIspute Resolution (ADR) - ✔✔3rd party resolution used before
lawsuit/court
✔✔Internal Resources for Enforcing Rules - ✔✔Suspension of voting rights
Suspension of recreational facility usage
Fines
Eviction
Self help
✔✔External Resources for Enforcing Rules - ✔✔Local Health Department
Local Zoning Department
Local Fire Department
Local Police Department
Local Building Department
Local Animal Shelter
✔✔Sources of Budget Requirements - ✔✔Federal Laws
State Statutes
Local Laws
Governing Documents
✔✔Name Two Main Budget Components - ✔✔Revenue & Expenses
Revenue - Owner assessments, Interest, late fees, fines, usage fees.
