Get email alerts on the Collections topic
No spam. Unsubscribe anytime.
Lake Ridge board lengthens delinquency timeline, revises collection policy
Summary
The board amended its collections policy to extend the delinquency timeline for legal referral from 90 to 180 days, add two warning notices, and revise administrative procedures, effective June 1, 2025 (Resolution 2025/5-7).
Vice President Janet Foote moved to approve amendments to the association’s collections policy that extend the delinquency timeline for legal referral from 90 days to 180 days, add two additional delinquency warning notices, and revise the administrative collection process; Treasurer Aron Sanchez seconded and the motion passed unanimously (Resolution 2025/5-7).
The minutes state the amendments take effect June 1, 2025, after legal review, and that management will publish notice of the policy change and update operational procedures accordingly. The transcript does not include the revised policy text or examples of how the added notices will be delivered.
AI generated
The text on this page is AI generated. Summaries, highlights, analysis, and video transcripts are all produced from the original source material.
AI can make mistakes, so if you spot one, and we will fix it for everyone.
Note: the source content is unaltered by us. Any content source we link to, be it a video, an audio recording, or a document, is presented exactly as its publisher released it. That publisher is usually a government body, sometimes an individual official or another organisation.
