The Association is a non-profit corporation managed by a Board of Directors (or in some cases a Board of Trustees). The Board is responsible for the management of the Association's funds, the enforcement of the deed restrictions, and common area property.
Annual Meetings
The answer to this question is within the By-Laws of your Association. The By-Laws are part of the recorded documents that you received when you closed on your home and can also be found on record at the county courthouse, the community's website, or in your My Community's document section. Typically, the first annual meeting of the Members shall be held within one (1) year after the date of incorporation of the Association. Thereafter, annual meetings shall be set by the Board so as to occur not later than 120 days after the close of the Association's prior fiscal year.

Special Meetings
Special meetings of the Members may be called at any time by the Declarant, by the President, by the Board, or upon the written request for a special meeting from Members. What has been stated here and above is only "typical." You must consult your Association's recorded documents for accuracy.
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