Balmoral a Private Community on Beautiful Lake Winnipsaukee
Currently dues as of January 1, 2011
Undeveloped land $100 12% late fee $12.00 After April 30th
Developed land $250 = home, garage, foundation, shed or dock 12% late fee $30.00 After April 30th
Late fees were voted and approved by membership to 12% as of May 24, 2014
One time initiation fee $650
BY LAWS OF BALMORAL IMPROVEMENT ASSOCIATION, INC.
PO Box 625
Moultonborough, NH 03254
The Bylaws for Balmoral Improvement Association, Inc., recorded in the Carroll County Registry of Deeds in the State of New Hampshire. Book 3147, Page 538, are hereby amended and restated in their entirety, a true copy of which follow and have been approved by the membership and Directors at a duly called annual meeting dated May 24, 2014.
Section I -Membership
Every person or entity who holds an equitable interest or an undivided equitable interest in any lot whether as a land contract vendee or fee holder being subject to these bylaws and to assessment by the Association shall be a member of the Association provided that any such person or entity who holds such interest merely as a security for the performance of an obligation shall not be a member. Each owner of any lot by the acceptance of a deed thereto or the inheritance of the record title thereto, whether or not it shall be expressed in the devise, deed or other conveyance be deemed to covenant and agree to pay the Balmoral Improvement Association (hereinafter “Association”): (1) Annual Assessments, and (2) Annual Road Maintenance Fee, (3) Both of such assessments and fees to be fixed, established and collected from time to time as hereafter provided. Both the Annual Assessment and/or the Annual Road Maintenance Fee together with interest thereon and costs of collection thereof as hereafter provided, shall be a charge upon the land and shall be a continuing lien upon the property against which each such assessment and/or fee is made. Each such assessment and/or fee, together with such interest thereon and cost of collection thereof, as hereinafter provided, shall also be the personal obligation of the person who was the owner of such property at the time when the assessment and/or fee fell due.
Section II - Rights and Assessments
For purposes of this Section, an “undeveloped” lot is a lot with no buildings. A “developed” lot is one that includes any type of building. A “building” is defined as any structure having a roof supported by columns or walls and intended for the shelter, housing, or enclosure of any individual, animal, plant, process, equipment, goods, or materials of any kind, including a dwelling, garage, shed, dock, foundation or the like). The BOARD OF DIRECTORS does not recognize any other defined types of lots and all developed or undeveloped lots are considered subject to an assessment if the lot is assessed by the town for real property taxes.
Rights of Membership are subject to the payment of:
(1) An annual BETTERMENT FEE assessment:
The amount of the BETTERMENT FEE shall be recommended from time to time by the BOARD OF DIRECTORS and voted on at an annual membership meeting. The BETTERMENT FEE invoice will be delivered to members in January of the current fiscal year and must be paid by April 30 of the current fiscal year. Any BETTERMENT FEES not paid by the due date will be subject to an interest charge of twelve (12%) percent per year and subject to any lawful means of notice or collection, unless other arrangements for payment of the BETTERMENT FEE are submitted in writing and approved by the BOARD OF DIRECTORS;
(2) An INITIATION FEE assessment:
The INITIATION FEE is due upon the purchase by a non-member of any real property subject to these bylaws, as defined under SECTION I, after April 30, 1992. The amount of the INITIATION FEE shall be recommended from time to time by the BOARD OF DIRECTORS and voted on at an annual membership meeting;
(3) An annual ROAD MAINTENANCE FEE:
The amount of the ROAD MAINTENANCE FEE shall be recommended from time to time by the BOARD OF DIRECTORS and voted on at an annual membership meeting. The ROAD MAINTENANCE FEE will be expended for the exclusive use of maintaining and improving the roads in accordance with Article VI, Section V. A separate accounting of this fund will be made available to the membership at the Annual Meeting. Any ROAD MAINTENANCE FEE not paid by the due date will be subject to an interest charge of twelve (12%) percent per year and subject to any lawful means of notice or collection, unless other arrangements for payment of the ROAD MAINTENANCE FEE are submitted in writing and approved by the BOARD OF DIRECTORS.
If any assessment and/or fees are not paid on the date when due, then such assessments and/or fees shall become delinquent and shall together with such interest thereon and cost of collection thereof as hereinafter provided, thereupon become a continuing lien on the property which shall bind such property in the hands of the then owner and his successors in record title. The personal obligation of the then owner to pay such assessments and/or fees however, shall remain his personal obligation for the statutory period and shall pass in his successors in record title.
The Association may bring any action at law against the owner personally obligated to pay the same or to foreclose the lien against the property, and there shall be added to the amount of such assessments the costs of preparing and filing the complaint in such action, and in the event a judgment is obtained, such judgment shall include interest on the assessment as above provided together with reasonable attorney's fees and the costs of the action.
Section III - Use of Association Property
Each member in good standing, his immediate family and their assignes, shall be entitled to the reasonable personal use and enjoyment of the common properties and facilities, subject to members obligation herein described. A member is considered in good standing when all assessments are paid for all properties in Balmoral.
Should the Board of Directors deem it necessary for the installation of a culvert, the Directors will notify the lot owner who will install it at his own expense after submitting construction drawings, etc., to the Board of Directors. If a lot owner wished to install a culvert on his own, he will notify the Board, submit construction drawings, etc., for approval and install the culvert at his own expense.
Prior to any construction or improvements, which may affect common property, the property owners shall notify the Directors in writing, by sending a letter to the Balmoral Improvement Association, PO Box 625, Moultonborough, NH 03254. The Board of Directors will then determine if a performance bond or other form of guarantee is required to insure restoration of the common property to its preconstruction condition. The Board of Directors will release the guarantee upon inspection within 60 days of notification to the Board of Directors, in writing, that the work has been completed.
Section IV- Right of First Refusal
No lot in the Balmoral or Paradise Shores subdivision located on Paradise Drive and abutting land not part of Balmoral may be sold to any person other than a spouse or child of the owner while Balmoral Improvement Association, Inc., continues in existence unless (a) the owner has received a bona fide offer to purchase the same and (b) the owner has given to Balmoral Improvement Association, Inc. written notice stating the name and address of the said offer or and the terms and conditions of said offer; and containing an offer by said owner to sell the same to Balmoral Improvement Association, Inc., on the same terms and conditions as set forth in said bona fide offer; and (c) Balmoral Improvement Association, Inc., shall within 3 days after giving of said notice have mailed or otherwise given said owner written notice that it elects to purchase the same in accordance with said offer. In the event that Balmoral Improvement Association, Inc. shall so elect to purchase, the deed shall be delivered and the consideration paid at the Registry of Deeds on the 35th day after the date of the giving of said notice of election to purchase. The foregoing restriction is personal to Balmoral Improvement Association, Inc., and its successors and assigns is not intended to convey any rights to any other person, firm, corporation or lot owner in the Balmoral or Paradise Shores Subdivision and may be waived in part or in whole by Balmoral Improvement Association, Inc., its successors and assigns at any time and from time to time. No lot in Balmoral or Paradise Shores Subdivision can be sold to become an access way of another development.
ARTICLE II - Voting Rights
The Association shall have one class of voting membership. The voting members shall be all those members who hold the interest required for membership in Section I of Article I above. When more than one person holds such interest in any lot or lots, the vote of all such persons and the one vote of each such lot shall be exercised, but the ownership of more than one lot by a member shall not entitle that member to more than one vote. No more than two votes per household.
ARTICLE III - Powers and Duties
The Association shall have the following supervisory powers and duties:
To keep and maintain Association common properties and real, personal, or mixed in a clean and orderly condition.
To exercise such controls of roads and other association properties as it may deem necessary or desirable.
To do all things necessary or incidental to the protection of plant and wildlife in the common properties.
To provide for the erection or maintenance of gateways, entrances, signs or other ornamental features as now exist or hereafter to be erected or created.
To enforce, either in its own name, or in the name of any real estate owner or owners, as may be necessary, all bylaws and restrictions which have been, are now, or may hereafter be imposed upon any of the real estate in said Association, or any additions thereto. The expenses and costs of the proceedings, including reasonable legal fees, may be paid out of the general fund of the Association, and filed as a lien against the lot and the member, by vote of the Board of Directors.
The Association, acting through the Board of Directors, may sponsor or engage in any social, athletic, or sporting activity. Individuals or groups may also undertake similar activities at their own risk and expenses, subject to these By Laws.
ARTICLE IV- Membership Meetings
The regular annual meeting of the Association shall be held at a place reasonably near Balmoral, all as designated in the Secretary's notice of meeting, or as more specifically determined by the Board of Directors.
Section II - Notice of Meeting
At least thirty days written notice of the Annual Meeting shall be mailed to each member or family, addressed to the last known address, or any address given to the Secretary.
Section III - Adjourned Meeting Notice
If, for any reason, the annual meeting shall not be held on the day designated for lack of a quorum or otherwise, such meeting may be called as a special meeting and proceedings may be had thereat at an annual meeting, provided, however, that the notice of such meeting shall be the same required for the annual meeting. Such meeting shall be held on or about the Memorial Holiday weekend.
Section IV - Contents of Notice: Suggestions of Members
The notice shall set out a reasonable detail of the business to be brought before the meeting, and each meeting shall be limited to the items set out in the notice in order that those casting absentee ballots may be permitted to express their desires. Members present may make suggestions covering items which they feel should be brought before the membership. If any such suggestions are approved by the majority resolution of those members present, it shall be the duty of the Secretary to present such resolution to the members for consideration at the regular or special membership meeting. It shall further be the duty of the Secretary to include with the notice of any regular or special membership meeting such suggestions or requests as may be properly presented in writing and endorsed by ten (10) or more members in good standing, providing such requests are received by the Secretary at least sixty (60) days prior to the meeting date.
Any item that would necessitate a change to the B.I.A By-laws must be set out in the notice of business for the annual or special membership meeting. It shall also be noted in the notice of business that the proposed item would create a By-law change. Any proposed amendment brought before the meeting that would necessitate a change in the by-laws must be held over for either the next annual or special membership meeting.
Section V - Special Meeting
All costs resulting from a SPECIAL VOTE or SPECIAL MEETING will be paid in advance by the person or persons requesting such. The costs include people hired to count the votes, security person, postage, copies and professional mailing company. A special vote cannot be brought up for reconsiderations for at least two (2) years from the date the vote is counted and official.
A special meeting of the Association may be called by the President or the Board of Directors and shall be called by the President whenever requested in writing by twenty-five (25) or more members who are in good standing. Such request shall clearly state the purpose for which the meeting is to be called. The Board of Directors may authorize a submission of additional matters for the consideration of the members at such meeting, providing such additional matters shall be set forth in the notice.
Section VI - Notice of Special Meeting
At least thirty (30) days notice of any special meeting shall be given in the same manner as provided for the annual meeting in Article IV, Section II.
Section VII - Order of Business
The order of business at the annual meeting shall be as follows:
a. Roll Call
b. Reading of the minutes of the previous meeting
c. Reports of the Officers
d. Reports of the Committees
e. Unfinished Business
f. New Business
g. Election of Directors
Section VIII - Voting
Members may cast their votes either in person or by proxy when duly filed with the Secretary.
A member must be in good standing. His betterment fee must be current in order for him to participate in voting in the special meeting or in the annual membership meeting.
Section X- List of Voters
It shall be the duty of the Secretary to prepare a list of the members entitled to vote at each meeting, against which list all members voting, whether by proxy or in person, shall be checked, either by the Secretary or by some individual designated by the Board of Directors.
Section XI - Quorum
The presence of Seventy-five (75) valid votes, either in person or by proxy shall constitute a quorum for the transaction of business.
Section XII - Majority Vote
Voting shall be by majority of the votes present as represented by the persons and / or proxies.
ARTICLE V - Duties of the Board of Directors
The Board of Directors shall have general power to carry on the affairs of the Association.
All directors shall serve until their successors are elected.
The directors shall fill all vacancies created by death or resignation, until the next meeting.
Directors shall appoint a nominating committee which shall place in nomination for directors at least as many names as there are nominees to be elected at the annual meeting.
Members of the Association may nominate other members as candidates for Directors, and such nominations shall be in writing signed by the member and the candidate, and submitted to the Secretary on or before fifteen (15) days prior to the date of election.
The Board of Directors shall after the annual meeting select a President, one or more Vice Presidents, a Secretary, and a Treasurer. All officers of the Association shall be elected members of the Board of Directors.
The Board of Directors shall have the power to appoint such officers and agents, and to hire such employees or contractors as may be necessary for the carrying out of the purposes of the Association. Three (3) bids are mandatory.
A quorum of six members of the Board of Directors is necessary for the transaction of any business.
The Board of Directors may appoint or authorize the President to appoint such committees as the board deems necessary to carry on the affairs of this Association, and it shall define the powers and duties thereof. The Committees so appointed shall hold office during the pleasure of the Board of Directors.
At the annual meeting the three (3) Directors with the highest total number of votes shall be elected to a term of three (3) years; all other Directors shall serve a term of two (2) years. Directors who have completed one (1) year of service are the only Directors eligible to hold the offices of President, Vice President, Treasurer, and Secretary and they shall serve a term of up to two (2) years. No Officer (President, Vice President, Treasurer, and Secretary) may serve more than two (2) consecutive terms. When an Officer has served two (2) consecutive terms he or she may not run for that office for one (1) year. An officer position may be filled without the eligibility requirement if no experienced directors are available, by majority vote of the Board. There may be only one (1) Director per immediate family elected to the Board of Directors.
Section XI - Duties of the Board of Directors
The Board of Directors shall have the power to remove a board member.
ARTICLE VI- Officers
Section I - President
He/she shall have general and active management of the business of the Association and shall see that all orders and resolutions of the Board are carried into effect. He/she shall preside over all regular and special meetings of the Association. He/she shall preside over all meetings of the Board of Directors. He/she shall have authority to sign checks and shall, if requested by the Board, be bonded, the fee for any bond being paid from funds of the Association. He/she shall sign all legal documents authorized for his signature by the Board of Directors. He/she shall appoint a chairman for all standing committees. He/she shall be an ex-officio member of all committees. Two officers have to sign checks.
Section II - Vice-President
The Vice-President shall act in place of the President in his/her absence. He/she shall also perform such other duties as may be delegated by the president.
Section III - Secretary
The Secretary shall keep the minutes of all meetings of the Association and of the Directors, and shall preserve in the books of the Association true minutes of all proceedings of all such meetings. He/she shall give all notices required by statute, by law of resolution. He/She shall keep a record of the names and addresses of all members of the Association, the property owned by each, and of all transfers of membership. Members shall notify the Secretary in writing, by certified mail of any change of address or ownership.
Section IV - Treasurer
The Treasurer shall have custody and keep accounts of all money, corporate funds and securities of the Association and shall keep in books belonging to the Association full and accurate accounts of all receipts and disbursements. He/she shall deposit all monies, securities and other valuable affects in the name of the Association in such depositories as may be designated for that purpose by the Board of Directors. He/she shall disperse the funds of the Association as may be ordered by the Board, taking proper vouchers for such disbursements, and shall render to the President and Directors, at the regular meetings of the Board, and whenever requested by them, an account of all his/her transactions as Treasurer of the financial condition of the Association. He/she shall deliver to the president of the Association, and shall keep in force a bond in form, if available, the amount with surety or sureties satisfactory to the Board, conditioned for faithful performance of the duties of his office, and for safekeeping of all papers, books, vouchers, money and property of whatever kind in his/her possession or under control belonging to the Association. The fee for any such bond shall be paid from funds of the Association. He/she shall send to the lot owners all notices as to amounts due the Association for betterment fees. He/she shall advise the Board as to all delinquencies and shall keep the board informed regarding the Properties of the Association and any required insurance thereon. He/she shall perform such other duties as are delegated by the Board of Directors.
Section V - Expenditures
The Board of Directors shall present an annual budget including all capital improvements to the Association at the Annual Meeting for approval by majority vote. Normal expenditures including insurance, utility bills, legal fees, normal road, building, beach and dockage maintenance, office supplies, and emergency expenditures shall not require an approval by majority vote of the Association membership prior to expending funds for these purposes to the limits of fund available.
Article VII - Restrictions and Limitations of all Said Real Property
All lots shall be used for residential purposes and no lot shall be used for any commercial enterprise.
Not more than one (1) single family dwelling shall be erected on any lot, no outhouses shall be maintained thereon; no other buildings of any kind shall be maintained thereon, other than a private garage, boathouse, tool shed or similar structure, used for storage as an accessory structure to the dwelling.
All dwellings must have private inside bathroom facilities; all drainage shall be piped into a septic tank or cesspool which septic tank or cesspool shall be located not less than 50 feet from the high water mark and said system meets town and state health codes.
No signs or advertising devices of any kind what so ever shall be erected, placed or utilized on any lot except for signs and advertising devices erected placed or utilized by Balmoral Improvement Association.
No livestock, animals or poultry shall be kept or maintained on the premises, except for household pets. Pets shall be confined by leash or fence and are not allowed on the beach.
The owner (s) of lots shall at all times keep and maintain said lots in an orderly manner: all refuse, rubbish and garbage shall be disposed of promptly and in an orderly manner. No tents, Quonset huts, house or camping trailers, un-registered motor vehicles in dis-repair or temporary buildings shall be placed on the premises.
The Board of Directors shall maintain a list of current assignments to each boat slip that the Association owns and maintains. In addition, the Board of Directors shall maintain a list of the members who have indicated a desire for an assignment to a boat slip. This list shall be used to fill vacancies and shall be applied on a first-come first-serve basis. To qualify for an assignment or to continue an assignment of a boat slip, the member must be in good standing in accordance with Article I, Section II, comply with the rules and regulations that the Association may enact from time to time and pay the usage fee as set by the Board of Directors. Only one boat slip may be assigned per member or household. Boat slips are for the exclusive use of the membership, no boat slips may be rented, leased, or sublet. The assignment of a boat slip shall continue from year to year subject to the rules as defined herein.
All monies collected from the rental of the boat docks are to be used only to support the docks for any and all maintenance and expenses of the yearly installation and removal of the seasonal boat docks. Any money remaining in this line item is to be carried over from year to year and is to be held separate. The carry over funding could be used to add more docks to the existing dock plan, if permitting allows. The monies could also be used for any and all legal fees that may be incurred in the pursuit of additional docking.
ATV's and Trail Bikes are banned in the community of Balmoral
Only registered Motor Vehicles and Snowmobiles are permitted for use on Balmoral Properties as regulated by all local, state, and federal laws.
Golf Carts are also permitted for use only if they are standard, non-modified golf carts, acceptable for use on a sanctioned golf course and as regulated by any local, state and federal laws. They can only be operated from sunrise to sunset unless properly equipped with operational headlights and tail lights. The number of occupants may not exceed those specified by the manufacturer. No standing or hanging from the golf cart or towing of other objects or people is permitted. Golf carts may only be operated by a driver with a duly issued motor vehicle operator’s license. (went into effect as of 6/24/2014 for safety reasons, agreed by the membership)
All Golf Carts must have proof of insurance.
Pocket Rockets, Go-carts, homemade motor vehicles, and all other motorized not registered are prohibited on Balmoral Property.
A TRUE COPY ATTEST:
Kevin Quinlan - President Date: June 12, 2014
Sworn to and acknowledged before me this 12 day of June, 2014 by Kevin Quinlan, President of Balmoral Improvement Association, Inc.
Alex D. Sorell, Jr - Notary Public - Commission expires: March 24, 2015