An update on the review of SOA governing documents
By Terry Retter, Board Vice President
Earlier this year, a document review committee was formed to review and assess the SOA controlling documents, which include:
The purpose of the committee is to propose document revisions to the SOA Board of Directors. Once the Board approves the changes, they will be presented to the owners for approval. A vote by owners is required for the implementation of the revisions.
The review committee has completed its assessment and suggestions have been submitted to Association attorneys for legal review. The Board will then review the suggestions from the attorneys.
One of the key proposed changes throughout all of the documents is the removal of the declarant – Somersett Development – which requires written approval from the declarant for this to take place. Our attorney review will determine if we have met all of the legal requirements of NRS and to ascertain where conflicts may arise with the declarant. This attorney appraisal will then be forwarded to Somersett Development for review along with a request for written approval.
The Board plans to hold a series of workshops to explain the proposed document changes to Somersett members in anticipation of a vote. We hope that all of this will happen before the end of this year but there are many steps and a delay in any one of them could move the vote into next year.
We will provide updates as progress is made and will let you know when the workshops are scheduled.
If you have any questions, please email Terry Retter at email@example.com