Initially, the board is composed of developer-appointed members, in order to maintain the character of the community that the developer has for it. As the proportion of ownership shifts from the developer toward homeowners, the corresponding share changes from developer-appointed members to owners elected at an annual meeting, and ultimately the board will consist solely of house owner-elected members.
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Board Members
They note that the affiliation’s creator, e.g. a developer, has an incentive to set up a government structured in such a method as to maximize earnings and thus increase the promoting value of the property. If a sure choice would increase the selling value of certain parcels and reduce the promoting value of others, the developer will choose the choice that yields his project the highest web revenue.
Training Suppliers
Usually, the board will be elected at an annual meeting of the owners, as specified in the … Read More