A nonprofit corporation is one that is organized for charitable or benevolent purposes. These corporations include certain hospitals, universities, churches, and other religious organiza¬tions. A nonprofit entity does not have to be a nonprofit corporation, however. Nonprofit corporations do not have shareholders, but have members or a perpetual board of directors or board of trustees.
A Home Owners Association is an organization of homeowners of a particular subdivision, condominium or planned unit development. The purpose of a home owners association is to provide a common basis for preserving maintaining and enhancing their homes and property. Most homeowners' associations are non-profit corporations. They are subject to state statutes that govern non-profit corporations and homeowner associations. The associations provide services, regulate activities, levy assessments, and impose fines. Usually, each member of a homeowners association pays assessments. Those assessments or dues are used to pay for expenses that arise from having and maintaining common property.
New Hampshire Articles of Incorporation of Homeowners Association serve as a legal document that establishes and governs the operations of a homeowners' association (HOA) within the State of New Hampshire. They define the association's structure, purpose, powers, and obligations. The following are different types of New Hampshire Articles of Incorporation of Homeowners Association: 1. General New Hampshire Articles of Incorporation of Homeowners Association: This type of incorporation is suitable for a typical homeowners' association that aims to manage and maintain shared common areas, enforce community regulations, and facilitate the overall well-being of the community. 2. Condominium Association Articles of Incorporation: Specifically tailored for condominium associations, these Articles of Incorporation outline the specific rules and regulations related to condo ownership, including common area maintenance responsibilities, shared amenities, and adherence to the association's bylaws. 3. Gated Community Association Articles of Incorporation: These Articles of Incorporation cater to gated communities that provide additional security to property owners. They may include provisions related to gate access controls, neighborhood safety measures, and private amenities like parks, pools, or clubhouses. 4. Active Adult Community Association Articles of Incorporation: Designed for communities that exclusively cater to residents aged 55 and older, these Articles of Incorporation may include specific provisions relating to age restrictions, amenities suited for seniors, and any unique regulations or exemptions granted under state or federal laws. 5. Planned Unit Development Association Articles of Incorporation: These Articles of Incorporation are suitable for associations managing planned unit developments (Puds). Puds typically consist of a mix of residential, commercial, and recreational zones. The incorporation document may outline the regulations governing these mixed-use spaces, as well as the maintenance responsibilities and common area allocations. The New Hampshire Articles of Incorporation for Homeowners Association usually contain the following key elements: 1. Name and Purpose: Clearly states the name of the HOA and its primary objective, which can encompass the management, maintenance, and enforcement of covenants, conditions, and restrictions within the community. 2. Registered Agent: Identifies the association's registered agent, who acts as the official contact person for legal notices and documents. 3. Membership: Outlines requirements for membership, such as eligibility criteria, voting rights, and the process for admission or termination of members. 4. Board of Directors: Defines the structure of the association's governing body, including the number of directors, their election process, term duration, powers, and duties. 5. Powers and Limitations: Specifies the powers granted to the association, such as collecting dues, managing finances, enforcing community rules, and maintaining common areas, as well as any limitations on these powers. 6. Amendments: Establishes procedures for amending the Articles of Incorporation in the future, including any voting requirements or approval thresholds. It is crucial to consult an attorney or legal professional familiar with New Hampshire HOA regulations to ensure the Articles of Incorporation comply with state laws and meet the unique needs of the homeowners' association.
