MarloM (Texas)
Posts: 17
Posts: 17
Posted:
State statute has some parameters for HOAs if they are unincorporated but none that I can find if they are incorporated. What is the difference? This is the wording found in the CCRs.
Declarant intends to organize an entity to be known as XX Owners Association, L.L.C., an Idaho Limited Liability Company, the “Association,” and shall file Articles of Organization and adopt an Operating Agreement, which Operating agreement shall be incorporated into and made a part of this declaration by reference... The Association shall have all the powers of a limited liability company organized under the laws of the State of Idaho, subject only to such limitations upon the exercise of such powers as are expressly set forth in the Articles of Organization, the Operating Agreement, and this Declaration. The Association, but not its Manager, is intended to be a non-profit entity.
There are no Articles of Organization or Operating Agreement to my knowledge.
Declarant intends to organize an entity to be known as XX Owners Association, L.L.C., an Idaho Limited Liability Company, the “Association,” and shall file Articles of Organization and adopt an Operating Agreement, which Operating agreement shall be incorporated into and made a part of this declaration by reference... The Association shall have all the powers of a limited liability company organized under the laws of the State of Idaho, subject only to such limitations upon the exercise of such powers as are expressly set forth in the Articles of Organization, the Operating Agreement, and this Declaration. The Association, but not its Manager, is intended to be a non-profit entity.
There are no Articles of Organization or Operating Agreement to my knowledge.