Post by Admin on Nov 4, 2013 9:22:24 GMT -5
Attachment Deleted
Many have referred to the Redbook as the Deadbook. This is only partially true.
The Redbook is made up of, in order of superiority:
Declaration of Covenants Conditions and Restrictions (aka CC&Rs)
Articles of Incorporation
Bylaws
Rules and Regulations
Provided that covenants on certain lots are adjudicated "expired", ONLY the Covenants and Rules & Regulations are dead.
Covenants expiration does not invalidate SLohA's corporate documents; these are the Articles of Incorporation and the Bylaws.
The snag is that the Covenants provide for the corporation to administer the affairs of SLohA. If one is not subject to the Covenants by reason of "expiration", one is not subject to any entity given authority by the Covenants to act on behalf of your lot. This, in my opinion, is the essence of why this question MUST be answered -- to determine the authority of SLohA to enter into contracts on behalf of all.
We are really talking about bookends here (SLohA the Use Restriction Part and SLohA the Corporate Part). When it comes time to revitalize (if Covenants are determined to be expired), the only thing to revitalize is the Covenants and the Rules & Regulations--NOT the Articles of Incorporation or the Bylaws.
As usual, I must add my disclaimer as this is my interpretation of how this was explained to me by someone far more legally knowledgeable than myself. If you have any doubts or questions, please seek professional information.
Many have referred to the Redbook as the Deadbook. This is only partially true.
The Redbook is made up of, in order of superiority:
Declaration of Covenants Conditions and Restrictions (aka CC&Rs)
Articles of Incorporation
Bylaws
Rules and Regulations
Provided that covenants on certain lots are adjudicated "expired", ONLY the Covenants and Rules & Regulations are dead.
Covenants expiration does not invalidate SLohA's corporate documents; these are the Articles of Incorporation and the Bylaws.
The snag is that the Covenants provide for the corporation to administer the affairs of SLohA. If one is not subject to the Covenants by reason of "expiration", one is not subject to any entity given authority by the Covenants to act on behalf of your lot. This, in my opinion, is the essence of why this question MUST be answered -- to determine the authority of SLohA to enter into contracts on behalf of all.
We are really talking about bookends here (SLohA the Use Restriction Part and SLohA the Corporate Part). When it comes time to revitalize (if Covenants are determined to be expired), the only thing to revitalize is the Covenants and the Rules & Regulations--NOT the Articles of Incorporation or the Bylaws.
As usual, I must add my disclaimer as this is my interpretation of how this was explained to me by someone far more legally knowledgeable than myself. If you have any doubts or questions, please seek professional information.
