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Covenant Law

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Vigd

Junior Member
What is the name of your state?A California non-profit mutual benefit corporation was created so property owners could combine their parcels in order to plan it for development. Owners signed covenants stating the conditions for the owners and Association activities. The covenants were for a term. Eventually the owners did not vote to extend the covenants and they expired. It was understood that this ended the membership in the Association, and that the only thing left to do was for the board to unwind and dissolve the corporation. A year or more later, dissident parties claimed that the membership still existed, and sought an annual meeting and board election. Can anyone refer to case law, regulations or precedents that indicate that membership ended when the covenants expired?
 


HomeGuru

Senior Member
Vigd said:
What is the name of your state?A California non-profit mutual benefit corporation was created so property owners could combine their parcels in order to plan it for development. Owners signed covenants stating the conditions for the owners and Association activities. The covenants were for a term. Eventually the owners did not vote to extend the covenants and they expired. It was understood that this ended the membership in the Association, and that the only thing left to do was for the board to unwind and dissolve the corporation. A year or more later, dissident parties claimed that the membership still existed, and sought an annual meeting and board election. Can anyone refer to case law, regulations or precedents that indicate that membership ended when the covenants expired?

**A: when did the corporation dissolve?
 

Vigd

Junior Member
The covenants expired in late 2003. The corporate shell continues to exist, though the board has elected to unwind and dissolve. V.
 

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