Allenby Westfair Homeowners

By-laws, Collections, Page 1

8.1 Due date. Annual assessments for expenses as determined by the board of directors may be paid by Owners upon notification that the assessments have been levied. The assessment for annual expenses may be paid in semi-annual installments, which shall be due on the first day of April and October of the year for which the annual expenses assessment is made. Additional assessments, if any, shall specify a due date in the resolution authorizing such assessment.

8.2 Delinquent Date. Assessment or any installment thereof not paid on or before ten (10) days after the due date shall be deliquent thereafter. Delinquent assessments shall bear interest at the maximum legal rate of interest then permissable under the laws of the State of Tennessee from the due date.




To be completed in the future