"A formal proposal stating that the association took certain action.", "Motion" "The agency, function, or power of a person authorized to act or vote in place of another resident who could not be present.", "Proxy" "This is a report on the community’s financial condition and activities, including a general ledger, variance, accounts payable, income statement and balance sheet. These are further reviewed in Section VI on page #.", "Financial Report" "Over 50% of the votes needed to win an election. The majority vote can come from those owners who attend the meeting, in person or by proxy, to decide all matters except special issues.", "Majority" "This is the manager’s report on the association’s current management and administrative activities.", "Management Report" "The minutes of a meeting document the decisions made during the meeting. This provides a permanent public record of positions and actions taken by the board.", "Minutes" "An official announcement that a meeting will take place, which should be sent in writing to board members at least a week before a meeting.", "Notice of meeting" "The body of rules, ethics, and customs governing meetings and other operations.", "Parliamentary procedure" "Awards the election to the candidate with the most votes, regardless of whether or not they received the majority.", "Plurality" "The number of residents required to be present to transact business legally. That number is established in the association’s by-laws.", "Quorum" "provides common rules and procedures for deliberation and debate in order to place the whole membership on the same footing and speaking the same language.", "Robert's Rules of Order" "Generally, once the motion has been proposed, consideration by the assembly occurs only if another member of the body immediately seconds the motion.", "Second a motion" "Incomplete items on the agenda should be rescheduled, or tabled, for another meeting.", "Table a motion" "A more specific agenda that limits the amount of time focused on specific areas, so as to move the meeting along at a more thorough and prompt pace.", "Timed agenda" "Bring the corporation into existence, define its basic purposes and powers, indicate whether stock will be issued, and indicate whether there will be a board of directors.", "Articles of Incorporation" "Formally adopted governing regulations for the administration and management of a community association.", "Bylaws" "The governing documents that dictate how the homeowners association operates and what rules the owners—and their tenants and guests —must obey. These legal documents might also be called the bylaws, the master deed, the houses rules or another name. These documents and rules are legally enforceable by the homeowners association, unless a specific provision conflicts with federal, state or local laws.", "CC&R's (Covenants, Conditions & Restrictions)" "A group of owners who wish to provide a communal basis for preserving, maintaining, and enhancing their homes and property.", "Community association" "A living unit fully owned by an individual with an undivided interest in the common elements of the community. The community association itself owns no real estate as an association.", "Condominium" "Wherein an individual owns stock or membership in the cooperative, and holds a proprietary lease or occupancy agreement for his or her living unit.", "Cooperative" "...used interchangeably with CC & Rs.", "Declaration" "Documents which provide for the legal structure and operation of the community.", "Governing documents" "To hold harmless means to exempt an individual or entity from responsibility for claims made against the organization and to reimburse the individual or entity for damages or expenses incurred as a result of such claims.", "Indemnification" "An organization of homeowners in a large condominium or planned unit development (PUD) which includes representatives from other, smaller homeowner organizations.", "Master association" "A development which is designed to mix two or more "uses" of land together (i.e. a shopping center which offers office space for dentists).", "Mixed-use development" "the most common type of community association, where an owner owns his or her lot and/or living unit and the community owns any common areas, such as tennis courts and roads for the use and benefit of the lot owners.", "Planned community" "A rental agreement between a cooperative housing corporation and a share holder allowing use of a certain unit in the premises.", "Proprietary lease" "A disclosure statement prepared by a developer that contains all material facts about a property offered for sale and that must be provided to a prospective purchaser in accordance with applicable state or federal law.", "Public offering statement" "A motion that follows a set format and is formally adopted by the board of directors.", "Resolution" "A formal written enactment of a legislative authority that governs a country, state, city or country", "Statute" "A cluster of community association types that can include aspects of homeowners associations, condominiums and cooperatives.", "Umbrella association"
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