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3. GOVERNING DOCUMENTS
Governing documents are, in essence, the constitution, law, and
regulations that explain how a community is governed. They
establish how the HOA is run and set expectations for residents
and the association. Although the terminology varies by location,
governing documents typically include the declaration, bylaws,
operation rules, articles of incorporation, and other documents.
4. BYLAWS
Bylaws are formal rules and regulations adopted by an
association that govern the activities and actions of the
board. They're the formal rulebook for the administration and
day-to-day management of the association. In the bylaws,
you'll find information about the specific powers and duties of
the association, board, and management company. Items like
meeting requirements, voting rights, and election procedures
are also addressed.
