assessments which are not paid when due shall be delinquent. If the assessment is not paid within 30 days of delinquency, interest may be charged at the rate of 6% per annum, and the Association may assess a $15.00 per month late charge." My question is, what is the maximum late charge assessment one homeowner can be charged if they do not pay any dues for a year? Is it 12 months x $15.00? (I know this does not include the 6% per annum interest charge)
One homeowner was charged over $2,000 in one year because the treasurer was charging her $45 per month if she was 3 months late, than $60 per month if she was 4 months late.
Just wondering if the bylaws could be interpreted differently.
Thanks !
I didn't find the right solution from the internet.
