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Please feel free to view our By Laws, Occupancy Agreement and Rules and Regulations by clicking on the document name. Thank you!
Bylaws are the rules and regulations that govern the internal and external activities of our residential cooperative. They are like the owners’ manual of the cooperative business and must be consistent with both State statutes and the articles of incorporation.
Bylaws are not filed with the State, but are considered legally binding among members. The bylaws of cooperatives underline specific criteria they have to fulfill which often depend on the federal, state or provincial cooperative legislation.
The occupancy agreement is a formal agreement between the shareholder and Sheraden Park Development, Inc. that allows the shareholder to occupy the property. It’s not an actual purchase, so Sheraden Park Development, Inc. retains ownership of the property during the agreement.
Though the agreement shares similar qualities as a lease, the two are not the same. The shareholder occupying the home aren’t considered tenants, which means they won’t be granted tenants’ rights. Rather, the agreement only allows them to occupy the property in accordance with the occupancy agreement.
In order to ensure the highest standard of safety, comfort and privacy, these Rules and Regulations are necessary in Sheraden Park Development, Inc. It is essential that all residents realize they are living in close proximity to others, and it is expected that all residents be considerate of their neighbors.
The Board of Directors will endeavor to enforce our rules and regulations by being dedicated, vigilant, and concerned. We request your cooperation.
Compliance with these rules and regulations is mandatory and a consideration of your continued occupancy.
