Home‎ > ‎ByLaws‎ > ‎

Resolution - Late Charges

SUPPLEMENT TO GOVERNING DOCUMENTS FOR 

WOOD MEADOW COMMUNITY IMPROVEMENT ASSOCIATION

DOCUMENTS GOVERNING THE FOLLOWING SUBDIVISIONS:

WOOD MEADOW, SECTION TWO

FILED OF RECORD IN COMPLIANCE WITH SECTION 202.006 OF THE TEXAS PROPERTY CODE AS PART OF THE DEDICATORY INSTRUMENT GOVERNING THE ABOVE-DESCRIBED SUBDIVISION

WOOD MEADOW COMMUNITY IMPROVEMENT ASSOCIATION
RESOLUTION REGARDING LATE CHARGES
       
        WHEREAS, the By-Laws governing Wood Meadow Community Improvement Association, Inc., ("the Association"), as well as the Association's Articles of Incorporation, the Declaration of Covenants, Conditions and Restrictions for Wood Meadow, Section Two, a Subdivision in Harris County, Texas (the "Declaration"), Chapter 204 of the Texas Property Code, and the Texas Non-Profit Corporation Act, authorize the Association to exercise all powers reasonable and necessary for the governance and operation of the Association;

        WHEREAS, Section 204.010(a)(10) of the Texas Property Code authorizes the Association to impose "late charges" for late payments of regular assessments or special assessments; 

        WHEREAS, the Association's Board of Directors has determined that it is in the imposition of a late charge is necessary and desirable for the fair, efficient, consistent and cost-effective management of the Association, and that such action would serve the best interest of the Association and its members; and

        WHEREAS, the Association's Board of Directors has determined that it is in the Association's best interest to adopt a policy whereby a late fee penalty (late charge) of Ten and No/100 Dollars ($10.00) per month, shall be assessed against each and every delinquent maintenance assessment account, which charge shall be assessed on the 10th day of each successive calender month, until such time that the respective account is paid in full, such policy to become effective as of the 1st day of the calendar month immediately following the execution of this Resolution.

NOW, THEREFORE, BE IT RESOLVED that a late fee penalty (late charge) in the amount of Ten and No/100 Dollars ($10.00) shall be assessed against each and every delinquent maintenance assessment account. which charge shall be assessed against such delinquent accounts on the 10th day of each successive calendar month, until such time that the respective account is paid in full. 

Adopted on this 23 day of June, 2009

WOOD MEADOW COMMUNITY IMPROVEMENT ASSOCIATION, INC.

*Following are signatures of the Resolution

Cecelia J. Ganje
President

Tina Thomas
Secretary

Robert J. Burkhart
Vice President

David Hall
Treasurer

** See the attached document for the AFFIDAVIT section