Terrace Pud Owners Association Inc

“All of the officers and directors have a business relationship with each other.”

“The organization has members who are property owners of the planned urban development. Members have voting rights for the election of individuals to the governing body and to adopt and publish association rules. Upon dissolution, the members would be entitled to a pro rata share of any unused membership fees.”

“Members have the right to cast votes for the election of members to the board of directors or governing body of the organization in person at the annual meeting or by written proxy.”

“The governing body (board of directors) shall have the power to undertake a number of actions, including, but not limited to, adopting and publishing the association rules, including regulations governing the use of the association property and facilities, and the personal conduct of the members and their guests thereon, and to establish penalties for the infraction thereof. This action by the board will only become effective upon the ratification by a vote of the members entitled to cast 51% of the total number of owner votes.”

“Meetings and any actions taken by the board of directors are documented in minutes of the meeting and are maintained by the organization in a corporate book.”

“There are currently no committees appointed by the board to take any actions on specific issues on behalf of the entire board, but if such a committee were formed, any and all actions taken would be documented by written record and kept with the minutes of the organization.”

“The form 990 is prepared and reviewed by at least one of the officers of the governing body before it is filed.”

“This association does not have a written conflict of interest policy. The governing documents and financial statements are available during reasonable business hours for inspection.”

“Description:LANDSCAPING Amount:32296”

“Description:UTILITIES Amount:600”

“Description:PROPERTY TAXES Amount:286”