Below are the commonly used HOA definitions for our structure and governance:
By-laws are the written rules agreed upon by the people in charge of an organization to formalize how decisions can be made and business conducted. The adoption of bylaws indicates a commitment to following a certain parliamentary procedure and the “generally accepted rules, precedents, and practices commonly employed in the governance of deliberative assemblies.”
Rules and Regulations are the rules that might need revising over time due to changes in the community. For example, an HOA might have a rule that states that no children are allowed in the community pool before noon. This rule would might need revision according to the season or as more children move into the community.
Rules and Regulations can be changed by an HOA board vote with review by the members of the community. Traditionally, the Board will adopt a rule then send a notice to the community members who will have 30 days to review it. After 30 days, the board will review the comments and concerns of members, considering the members’ feedback in the final decision.
The Board of Directors
- Represent the entire community of homeowners
- Preserve the value of all the homes by maintaining and enhancing the community
- Interpret and enforce the rules consistently
- Minimize risk and plan for the future
- Collect dues
- Build the reserve fund
- Obtain Insurance and legal counsel
- Oversee audits
- Hire and direct the management of the moorage