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Instructions to newly elected directors

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A document that provides instructions to newly elected directors of a homeowner's association

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									        _______________________________ HOMEOWNERS’
                         ASSOCIATION
       INSTRUCTIONS TO NEWLY ELECTED DIRECTORS


1.    Conduct Meeting and elect President, Vice President, Secretary and
      Treasurer. The Secretary and Treasurer can be the same person.
      Review the Bylaws and the Declaration and Supplements in detail.

2.    Send in Statutory Agent Update Form to the ________ Secretary of
      State.

3.    Change the authorized signatories to the general bank checking
      account. Pursuant to the Bylaws, the Treasurer of the Association
      shall be the authorized signer for the account; however, others may be
      identified.

4.    Send Directors’ letter to all members of the Association.

5.    Select a company or business to maintain the common areas by
      obtaining several quotes or by Board action to select one business or
      company (i.e. – pool, pond, entrance areas). Regularly pay for
      services rendered with Association check.

6.    Conduct meeting of Board, no less than quarterly.

7.    Prior to December 31 of each year prepare an estimated budget for the
      next fiscal year. On or before the Annual Meeting send an itemized
      accounting of the maintenance expenses incurred in the preceding
      year, together with a tabulation of the amounts collected, and show
      the net amount over or short of the actual expenditures plus reserves.

8.    The Board shall audit the books and records of the Association once
      per year.

9.    Send out Invoices to members for Assessments, currently being sent
      out semi-annually.

10.   Annually pay real estate taxes and insurance premiums with
      Association checks.
11.   Regularly pay operating expenses (i.e. - landscaping, snow plowing,
      etc.).

12.   Send out Notice of Annual Meeting to all members at least 10 days
      before meeting but no more than 60 days before meeting.

13.   Conduct Annual Meeting in or around February of each year or such
      other time as determined by the Board. Elect new Directors as their
      terms expire.

								
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