Assessment Collection Procedures
PROCEDURES RELATING TO COLLECTION OF ASSESSMENTS AND CHARGES
AND SUSPENSION OF RIGHTS TO FACILITIES AND SERVICES
I. ROUTINE COLLECTIONS
A. The $60 annual assessment provided for in the Declaration and all special assessments (“assessments”), unless otherwise provided for by the Board in a separate resolution, shall be payable no later than January 1 each year provided that more than twenty (20) days notice is provided based on the postmark date of the invoice envelope.
B. All documents, correspondence, and notices relating to assessments or charges shall be mailed to the address which appears on the books of the Association or to such other address as is designated in writing by a member to the Association.
C. Non-receipt of an invoice shall in no way relieve the member of the obligation to pay the amount due no later than January 1.
II. REMEDIES FOR NONPAYMENT OF ASSESSMENT
A. Late Fee. Annual assessments are due by January 1. An unpaid assessment will be deemed delinquent 60 days later (after March 2) and a late fee of five percent (5%) shall be added to the amount due.
B. Returned Checks. If a check is returned and payment of an assessment, or any other charge due and owing, is not otherwise received in the applicable time period, as provided in paragraph I.A. above, the account shall be deemed late and a returned check charge of not more than Twenty-Five Dollars ($25.00) will be added to the late fee.
C. Late Notice. A “Late Notice” shall be sent by the LBA membership chair or lake manager to members who have not paid assessments or charges, in full, by March 2 each year. The notice shall warn that the rights of the member to use the common areas and services provided through the Association will be suspended and that the member may request a hearing regarding the proposed suspension. If a hearing is held, the Board will hold the hearing consistent with the Association’s Due Process Procedures. The request for a hearing must be in writing and directed to the Association.
D. Payments of Past Due Amounts. Payments received from a member for assessments or other charges will be applied first to any past due amounts and late charges and then will be applied to current dues obligations.