La Cresta Property Owners Assoc

“Daily operations are managed by an independent professional management company. The management company acts as an agent for the association. Board of directors appoints and supervises those who is 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.”

“A member of the association would be generally the subscriber to a firm's memorandum of association (articles of incorporation) with his name entered in the firm's register of members when the firm is registered (or incorporated). Owners automatically become members.”

“The corporation is structured to have members which have right for electing directors. Corporation has annual meeting elections for owners to elect officers for the next year. The method of the board's election is formally set in the documents that create the company.”

“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.”

“Federal and state tax returns are reviewed and approved by the board of directors prior to filing.”

“UPON REQUEST.”