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CMCA Study Guide Exams Questions and Answers (2022/2023) (Verified Answers)
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CMCA Study Guide Exams Questions and Answers (2022/2023) (Verified Answers)
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CMCA Study Guide complete1. Articles of incorporation: Bring the corporation into existence, define
its basic purposes and powers, indicate whether stock will be issued,
and indicate whether there will be a board
of directors
2. Bylaws: Formally adopted governing regulations for the
administration and management of a community association
3. CC & Rs (Covenants, Conditions & Restrictions): The governing
documents that
dictate how the homeowners association operates and what rules
the own- ers—and their tenants and guests —
must obey. These legal documents might also be called
,the bylaws, the master deed, the houses rules or another name. These
documents and rules are legally enforceable by the homeowners
association, unless a specific provision conflicts with federal, state or
local laws
4. Community association: A group of owners who wish to provide a
communal basis for preserving, maintaining, and enhancing their
homes and property
5. Condominium: A living unit fully owned by an individual with an
undivided interest in the common elements of the community. The
community association itself owns no
real estate as an association
6. Cooperative: Wherein an individual owns stock or membership in the
,cooper- ative, and holds a proprietary lease or occupancy agreement
for his or her living unit
7. Declaration: Used interchangeably with CC & Rs
8. Governing documents: Documents which provide for the legal
structure and operation of the community
9. Indemnification: to exempt an individual or entity from responsibility
for claims made against the organization and to reimburse the
individual or entity for dam- ages or expenses incurred as a result of
such claims
10.Master association: An organization of homeowners in a large
condominium or planned unit development (PUD) which includes
representatives from other, smaller
, homeowner organizations
11.Mixed use development: A development which is designed to mix
two or more
"uses" of land together (i.e. a shopping center which offers office space
for dentists)
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