Freehold Residents Management Company Articles Of Association are essential when property owners wish to establish a formal structure for managing their shared development. This document is particularly relevant in the United States where resident-controlled management companies need clear governance frameworks. It defines the company's purpose, membership criteria, management structure, and operational procedures, ensuring compliance with state corporation laws and property regulations. The articles serve as the constitutional document of the management company, establishing rights, responsibilities, and decision-making processes.
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1. Company Name and Type: Legal name and classification of the management company
2. Definitions and Interpretation: Key terms and their meanings used throughout the articles
3. Objects: Primary purposes and objectives of the management company
4. Members and Membership: Rights, obligations, and qualifications for membership
5. Directors and Officers: Appointment, removal, and powers of directors and officers
6. General Meetings: Procedures for conducting meetings and voting
7. Financial Provisions: Management of company finances and assessment collection
1. Share Capital: Details of share structure and regulations for companies that issue shares to members
2. Transfer of Membership: Rules and procedures governing the transfer of membership rights between parties
3. Committees: Provisions for formation and operation of specialized committees for larger organizations
1. Property Description: Legal description of managed property and common areas
2. Members Register: Initial list of members and their respective units
3. Management Rules: Detailed operational rules and procedures
4. Fee Schedule: Schedule of management fees and assessment structures
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