The Arroyo Maintenance Corporation

“The association uses the services of optimum professional property management, appointed by the board of directors, to handle day to day operations of the development including collections, bill payments, homeowner assistance, and other duties and services authorized by the board. The board of directors appoints and supervises those who are responsible for the daily activities. The board governs the organization in pursuit of its charitable mission, and board members carry legal and ethical responsibilities because they hold the nonprofit's assets in trust for the public. Board members have a legal duty of loyalty to the corporation and must abstain from voting on matters in which they have a conflict of interest. The board has the ultimate responsibility of authorizing payments, selecting vendors, and approving the association's budget.”

“Upon purchase of a home within the development, each owner automatically becomes a member of the association.”

“The board of directors are voted upon by the members at the first annual meeting every year, which requires a quorum of 51% of membership.”

“An organization's governing documents dictate various resolution requiring membership approval. Bylaws specify when board meetings must be held and how many board members must be present to pass official business matters via vote. The association complies with all state requirements for community interest developments regarding membership approval.”

“The board of directors reviews and approves the tax returns.”

“All documents required to be disclosed by the association are available upon request at the association's office and/or management company.”

“Social improvements by providing for the preservation of the architecture and appearance of the community, and by owning, operating, and maintaining the properties for use of all residents in the entire community on certain real property located in rancho santa margarita, ca. Among the general purposes is to promote the common good, health, safety, and general welfare of all residents within the community. No grants are provided to others. The association owns and maintains a variety of recreational and community facilities including a pool/spa area, and a park area with barbecues, a basketball court, and a tot lot. The association also maintains a variety of walkways, greenbelts, and slopes. All facilities are available to residents and their guests on an unrestricted basis.”

“EXEMPT ACTIVITY 173,033”