BY-LAWS OF THE KING'S GRANT
HOMEOWNERS ASSOCIATION INC.
INTRODUCTION: The King’s Grant Homeowners’ Association was originally
incorporated as a nonprofit organization under the laws of North Carolina on 11
August 1969. The first meeting of the Board of Governors was held in Charlotte,
N.C. on 15 August 1969, at which time the Bylaws were approved. The Articles of
Incorporation were filed with the Secretary of State, S.C. on 20 August 1969.
The Association continued to meet and function in Charlotte until 15 January
1974, when control passed to the resident members in King’s Grant. The original
Bylaws have been amended by majority vote of the membership in January 1976 and
by the Board of Governors in November 1975, May 1981, October 1984, September
1996 and February 2002.
When you purchase property in King’s Grant you automatically become a member
of this Association. The Bylaws outline the rights and responsibilities of your
membership. Please read and comply with these laws.
ARTICLE 1
Officers
Section 1. Executive Officers: The Executive Officers of the corporation
shall be a President, a Vice President, a Secretary and a Treasurer. The
President and other officers shall be elected annually by the Board of
Governors, hereafter sometimes referred to as the Board. They shall take office
January 1 after the election. The officers of the corporation shall be members
of the Board of Governors and members in good standing of the corporation. The
election of officers will take place at the first regular meeting after the
election of the new Board members with both the outgoing and incoming members
entitled to vote.
Section 2. The President: Subject to the direction of the Board of
Governors, the President shall be the chief executive officer of the
corporation, as shall perform such other duties as from time to time may be
assigned by the Board. The President shall be an ex-officio member of all
committees.
Section 3. The Vice-President: The Vice-President shall have such power and
perform such duties as may be assigned by the Board of Governors or the
President. In case of the absence or the disability of the President, the
duties of that office shall be performed by the Vice-President.
Section 4. The Secretary. The Secretary shall keep the minutes of all proceedings
of the Board of Governors and all committees and the minutes of the members’
meetings in the books provided for that purpose; shall have custody of such
books and papers as the Board may direct, and shall in general perform all the
duties incident to the office of Secretary, subject to the control of the Board
of Governors and the President. The Secretary shall also perform such other
duties as may be assigned by the President or by the Board.
Section 5. The Treasurer: The Treasurer shall have custody of all receipts,
disbursements, funds and securities of the corporation and shall perform all
such duties incident to the Office of Treasurer, subject to the Board of
Governors and the President. The Treasurer shall perform such other duties as
may from time to time be assigned by the Board or the President. The Board
shall obtain a bond for the faithful discharge of the duties in such sum as the
Board may require.
ARTICLE II
Board of Governors
Section 1. Number of Members: The business and affairs of this corporation
shall be managed by a Board of Governors, which shall consist of nine members.
Section 2. Executive Committee: The Board of Governors shall select
from their number an Executive Committee consisting of not less than three
members of the Board, which committee shall have all the powers of
the Board of Governors between meetings, regular or special. The President of
the Association shall be the chairman of the Executive Committee.
CHANGE – The Executive Committee shall consist of the Executive
Officers of the Board, unless otherwise selected each January by the Board.
Section 3. Regular Meetings: The Board shall meet for the
transaction of business at such place as may be designated from time to
time. ???
Section 4. Special Meetings: Special meetings of the Board of Governors may
be called by the President or by three members of the Board for any time and
place, provided reasonable notice of such meetings shall be given to each
member of the Board before the time appointed for such meetings.
Section 5. Quorum: The Governors shall act only as a Board and the
individual Governors shall have no power as such. A majority of the Governors
for the time being in office shall constitute a quorum for the transaction of
business, but a majority of those present at the time and place of any regular
or special meeting, although less than a quorum, may adjourn the same from time
to time without notice until a quorum be on hand. The act of the majority of
the Governors present at any meeting at which there is a quorum shall be the
act of the Board of Governors, except as may be otherwise provided by law. The
Bylaws of the Association may be amended, modified, suspended, reinstated,
repealed and substituted for by other provisions upon the majority vote of the
Governors, provided the maximum maintenance charge shall not be increased
without the approval of the members.
Section 6. Order of Business: The Board of Governors may from time to time
determine the order of business at its meetings.
Section 7. Chairman: At all meetings of the Board of Governors, the
President, or, in his/her absence, the Vice-President, or, in the absence of
both, a chairman chosen by the Governors present, shall preside.
Section 8. Terms of Members of the Board: Members of the Board of Governors
shall be elected to serve for two years. To provide continuity within the
Board, normally six members will be elected one year, and five members the
next. However, should vacancies occur during the year for any cause, the next
election held will be for that number required to bring the Board to its
authorized strength of eleven. They shall be elected by the members in good
standing so as to take office at the start of the fiscal year.
Section 9. Ex-officio Members of the Board: The outgoing President of the
Board shall be requested to remain, should his/her term be expired, as an
ex-officio member, with no voting privileges, for a period of three (3) months.
Section 10. Annual Report: The Board of Governors, at the Annual Meeting
referenced in Article III, Section 1, shall submit to the members of the
Association a report as to the condition of the Association and its property
and shall submit also an account of the financial condition transactions of the
year-to-date.
Section 11. Resignation: Whenever a Board member is unable to perform his
elected duties by virtue of transfer, health, conflict of interest, or other
cause, such member should submit a letter of resignation to the Board citing
the reason.
Section 12. Vacancies in Board: Whenever a vacancy in the membership of the
Board shall occur, the remaining members of the Board shall have the power, by
the majority vote, to select a successor Governor to serve the unexpired term
of the vacancy.
Section 13. Removal from the Board: Should a member have three (3) unexcused
absences from the monthly Board meetings during the calendar year, that member
shall be subject to removal from the Board by a majority vote of a quorum of
the Board. Excused absences shall be those absences caused by personal or
family illness, travel necessitated by one’s employer or other emergencies
which require the Board member’s absence. An excused absence is established by
the member calling the President or Vice-President of the Board in advance of
the meeting and discussing the anticipated absence with him/her.
Section 14. Compensation: All Board members serve without compensation for
their services. Those expenditures made by any member of the Board at the
direction of the Board are reimbursable by the Homeowners’ Association and
require that the Board member retain and turn in to the Board’s Treasurer all
receipts relative to the expenditure.
ARTICLE III
Meetings of Members
Section 1. Annual Meetings: There shall be an annual meeting of the members
of the corporation at such place as may be designated on the second Tuesday in
November of each year at 7:30 p.m. in the evening, if not a legal holiday under
the laws of the State of South Carolina. If it is a legal holiday, then the
meeting will be on the next succeeding business day, for the transaction of
such business as may come before the meeting. No notice shall be required for
such meeting.
Section 2. Special Meetings: Special meetings of the members of the
corporation shall be held whenever called by the Board of Governors or by the
holders of at least ten memberships in good standing. Notice of each
special meeting, stating the time, place, and in general terms the purpose or
purposes thereof, shall be sent by mail to the last known address of all members
at least ten days prior to the meeting.
CHANGE: Written notice of
each special meeting, stating the time, place, and general terms the purpose of
purposes thereof, shall be sent or delivered
to each member at least seven (7) days prior to the meeting.
Section 3. Quorum: At any meeting of or election by the members of the
corporation, a quorum shall consist of those members in good standing attending
or voting, either in person or by proxy, and a majority in amount of such
quorum shall decide any questions that may come before the meeting or of the
election. This is not meant to include those questions, which are specifically
mentioned in the restrictions of the corporation as needing the vote of a
majority of all homeowners on record.
Section 4. Proxy: Every member in good standing may cast one vote either in
person or by proxy, for each lot owned in fee simple by that particular member
solely or jointly, or by the corporation owning the lot or lots of which
he/she/it is a stockholder and the member thereof.
ARTICLE IV
Memberships
Section 1. Qualifications: Only persons, firms or corporations owning real
property in the King’s Grant Subdivision shall be eligible to become a member.
Where two or more persons are the joint owners of real property in King’s Grant
Subdivision, they shall be considered as a single member with one vote. Any
corporation owning real property in King’s Grant Subdivision, shall be
considered a single member with one vote for each property. Only members in
good standing shall be entitled to vote. Whenever a member shall cease to own
real property in King’s Grant Subdivision, or shall cease to own stock in a
corporation that owns real property in such Subdivision, such member shall
automatically be dropped from the membership roll of the Association.
Section 2. Members: A member shall have no vested right, interest or
privilege of, in, or to the assets, functions, affairs or franchises of the
corporation, or any right, interest or privilege which may be transferable or
inheritable, or which shall continue after the membership ceases, or while
he/she/it is not in good standing.
Section 3. Manner of Admission: Every person or entity who acquires title to
any real property in King’s Grant Subdivision shall become a member of the Association,
subject to and bound by its Charter, Bylaws, rules and regulations.
Section 4. Memberships Not Transferable: No membership may be sold, assigned
or transferred, voluntarily or by will or by operation of law, except upon
delivery of the member’s deed to a subsequent owner of the lot whereby the
owner became entitled to membership.
Section 5. Termination of Membership: Whenever any member shall cease to
have all of the qualifications necessary for admission to membership in the
Association, then such membership shall terminate.
Section 6. Member in Good Standing: A member is in good standing when all
maintenance/regime charges, late charges and liens are paid in full and not
declared delinquent.
ARTICLE V
Loss of Property
The Board of Governors shall not be liable or responsible for the
destruction or the loss or damage to the property of any member or the guest of
any member, or visitor, or other persons.
ARTICLE VI
Regime Fees
Section 1. The Board of Governors of King’s Grant Homeowners’ Association,
Inc. shall have the right and power to subject the property situated in King’s
Grant Subdivision, including undedicated streets, ways and parks to an annual
regime fee. Each owner of a lot in
King’s Grant Subdivision shall pay to the King’s Grant Homeowners’ Association,
Inc. each year the sum as determined by the Board of Governors based on
the computation allowed within the Declaration of Restrictions, Section II.
Such payment is due on the first of January each year and shall be delinquent
sixty (60) days after such date; it shall be the right and responsibility of
the Board of Governors of the King’s Grant Homeowners’ Association, Inc. to
prosecute any action against any lot owner for any delinquent payments. A late charge of $5 per month shall be
charged for each month late or any portion thereof.
Section 2. The Regime Fees may be used for:
Improving and maintaining the dedicated right-of-way areas maintained for
the general use of the owners and occupants of the land included in the Subdivision;
Operating and maintaining any storm-water drains now or hereafter
constructed in the Subdivision that are not or will not be under the direct
supervision of the State or County;
Beautifying, maintaining and operating such green areas, playgrounds, parks
and recreational areas as the Board of Governors deems appropriate for the
mutual benefit of all owners;
Maintaining roads not under the supervision of the State or County,
providing traffic control and providing such other common community services as
the members shall decide are necessary or useful for the benefit of the
resident of King’s Grant;
Employing policemen and watchmen and
Doing any other thing necessary or desirable, in the opinion of the Board of
Governors of the Association, to keep the property neat and in good order, and
to eliminate fire hazards, or which in the opinion of the Board of Governors
may be of benefit to the owners or the occupants of the land included in the
Subdivision.
Section 3. To the extent permissible by law, King’s Grant Homeowners’
Association, Inc. shall have a lien on all the lots in King’s Grant Subdivision
to secure the payment of regime fees due and to become due, and the record
owners of such lots shall be personally liable for all maintenance charges.
Section 4. King’s Grant Homeowners’ Association, Inc. may at its discretion,
subordinate in writing, for limited periods of time, the liens of the
Association against any lot or lots for the benefit or better security of a
mortgagee.
ARTICLE VII
Notice Section 1. Notice: Whenever, according to these Bylaws, a notice
shall be required to be given to any member or Governor, it shall not be
construed to mean personal notice, but such notice may be given in writing by
depositing the same in a post office in Dorchester County, South Carolina, in a
postpaid sealed wrapper, addressed to such member or Governor at this address
as the same appears on the books of the Corporation, and the time when such
notice is mailed shall be deemed the time of giving such notice.
Section 2. Waiver of Notice: Any notice required to be given by these Bylaws
may be waived by the person entitled thereto.
ARTICLE VIII
Penalty
Whenever a member shall become delinquent by virtue of failure to pay the
annual regimee fee as prescribed herein, such member shall be required to
reimburse the Association for all costs; administrative, legal and otherwise
incurred incident to the subsequent collection of the delinquent fee.
ARTICLE IX Fiscal Year
The fiscal year of the corporation shall begin on the 1st day of January and
terminate on the 31st day of December of each year.
ARTICLE X
The Bylaws of the Association may be amended, modified, suspended,
reinstated, repealed and substituted for by other provision upon the majority
vote of the Governors, provided the maximum regime shall not be increased
without the approval of a majority of the members.
Adopted by the Board of Governors October 2007.