Ownership of a home in a development such as River Mill Condominium Association, Inc. involves both individual and shared responsibilities. River Mill Condominium Association, Inc. is a corporation that is owned and managed by its members. There are one hundred forty-four (144) units in the complex, each lot holding one (1) vote in the Association. The business of the Association is conducted by the Board of Directors, which is made up of five members, who are elected to two-year staggered terms.
Condo Living Definitions
There are several words and phrases that you will frequently hear when you live in a condominium. To ensure that all homeowners have a clear understanding of what each word or phrase means, we have created this sort of “Condominium Owner’s Dictionary.” Many of the definitions are adapted from the first pages of the Declaration.
Act – Refers to the Georgia Condominium Act adopted in 1975.
Association – River Mill Condominium Association, Inc., its successors and assigns, acting on behalf of the owners in accordance with the Condominium Instruments for the purpose of exercising the powers of the Association and for administering the Condominium. The Board of Directors and Management Company are frequently and mistakenly referred to as the Association.
Board of Directors – Five (5) homeowners elected by the Membership to two-year, staggered terms, to run the Association. All decision-making is the responsibility of the Board of Directors.
Condominium Instruments – The Declaration, By-Laws, Articles of Incorporation, Plat and Plans for the River Mill Condominium, pursuant to which the Property is submitted to the Act. Also know as the “documents”.
Common Elements – All portions of the Property other than the Units.
Management company – A contract service of the Association for the purpose of providing accounting and management services to the Association. The Board of Directors will frequently delegate Association responsibilities to the management company.
Membership – The Association’s membership is made up of all one hundred forty-four (144) homeowners in the condominium.