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North Carolina Ch. 47F
North Carolina Planned Community Act (N.C. Gen. Stat. Chapter 47F)Governs planned communities in North Carolina, generally those created on or after January 1, 1999, with selected provisions reaching earlier communities (N.C. Gen. Stat. §§ 47F-1-101 et seq.). Covers definitions, association powers and governance, the executive board, meetings, assessments for common expenses, the claim of lien for unpaid assessments and its enforcement by power-of-sale (nonjudicial) foreclosure, and association records.Official source
§ 47F-3-102
Lists the powers the association may exercise unless the articles of incorporation or declaration expressly provide otherwise, including adopting budgets and collecting assessments, hiring agents, regulating common elements, imposing late charges and reasonable fines after notice and an opportunity to be heard, and charging for statements of unpaid assessments.
§ 47F-1-103
Defines the terms used throughout the Planned Community Act, including affiliate of declarant, allocated interests, association, common elements, common expenses, declarant, declaration, development rights, executive board, lot, lot owner, planned community, and special declarant rights.
§ 47F-3-103
Sets the standards of conduct for officers and executive board members, limits the board's unilateral authority, provides for budget ratification without a quorum, addresses declarant control and the post-control election of an owner-majority board, and requires publishing officer and board names.
§ 47F-3-108
Requires at least one association meeting each year, sets who may call special meetings and the 10-to-60-day notice rule and its contents, requires regular opportunities for lot owners to address the executive board, and applies Robert's Rules of Order unless the bylaws provide otherwise.
§ 47F-3-115
Requires the declarant to pay common expenses until the first association assessment and at least annual assessments thereafter, sets the default allocation among lots and the interest cap on past-due assessments, and addresses limited-common-element, judgment, and negligence-based assessments and recalculation when liabilities are reallocated.
§ 47F-3-116
Creates the association's claim of lien for unpaid assessments perfected by filing in the clerk of superior court, sets the notice and service requirements and lien priority, and authorizes the executive board to foreclose by nonjudicial power of sale (like a deed of trust under Article 2A of Chapter 45) once an assessment is 90 days or more unpaid. Judicial foreclosure is also permitted, and a lien securing only fines, fine interest, or fine-related fees may be enforced only by judicial foreclosure.
§ 47F-3-118
Requires the association to keep financial records and make financial and other records, including meeting records, reasonably available to lot owners; to furnish a statement of unpaid assessments within 10 business days subject to a fee cap; and limits payments to officers, board members, and their associates.
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