Effective: May 1, 2012.

Resolution 2012-2 supersedes prior resolutions with regard to reserve and investment policy.  A few highlights:

  • The overall financial policy of the Association is to raise assessments annually no more than absolutely necessary to meet ongonig operating expenses, fund reserves for hte future, avoid special assessments, and minimize borrowing.
  • A Reserve Study shall be conducted at least as often as required by the Virginia Condominium Act, and reviewed and updated annually with a review of existing reserve funds, and anticipated reserve expenditures. 
  • Investment of Reserve Funds shall be in low-risk instruments that maximize interest while preserving reserve principal.

Open or Download Resolution 2012-3, Reserve / Investment Policy. [.pdf, 43.3 K]

Things You Should Know

Governing Documents

The Virginia Condominium Act, as amended, gives the Association its legal status and gives the Association authority to levy and collect assessments.  The Declaration and the Bylaws authorize and describe how the Association is to be governed.

The Bylaws are the legal document that governs how the TallTree South Condominium Association operates. This large document is part of the resale packet provided to purchasers. For example, it sets out the officers of the Board of Directors and their terms of office. Amending the Bylaws requires a vote of 2/3 of the unit owners.

The Board Resolutions result in the Rules and Regulations for the policies and procedures to be followed by the Board, the Association management staff, and the Talltree South owners and residents. These rules apply to both unit owners and tenants, and have been provided in on this website and in the Owners and Tenants Handbook. Landlords must make sure that tenants review and agree to abide by all these rules as part of their lease agreement. Talltree South unit owners and tenants must receive and review the governing documents when they purchase or rent at Talltree.

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