Data Room
Search across this room’s published 5 documents and FAQ answers.
Governing Documents
Operational Documents
Frequently Asked Questions
Fees & Assessments
Created from document-derived FAQ review.
How much must a Unit Owner contribute to the operating reserve after purchasing a unit?
Within 60 days after purchasing a unit, the Unit Owner must contribute an amount equal to the unit’s monthly assessment multiplied by two (2) to the Association’s operating reserve account.
Source: document d5051bfa-4955-437c-a53f-a595f039b15f
Can Unit Owners be required to make an additional operating reserve contribution?
Yes. If the Board gives written notice that it has expended more than 25% of the operating reserve account, a Unit Owner must contribute an amount equal to the unit’s monthly assessment multiplied by two (2) within 120 days after receiving the notice.
Source: document d5051bfa-4955-437c-a53f-a595f039b15f
How often can the Association require the operating reserve contribution?
No Unit Owner may be required to make the operating reserve contribution more than once in any 12-month period.
Source: document d5051bfa-4955-437c-a53f-a595f039b15f
What is the operating reserve contribution used for?
The contribution is held as part of the operating reserve account and may be used by the Association to pay Common Expenses, fund the reserve account, supplement the reserve account if it is spent down, and help keep the reserve adequately funded for the community.
Source: document d5051bfa-4955-437c-a53f-a595f039b15f
HOA / Condo Association
Created from document-derived FAQ review.
How many people serve on the Bankers Lofts Board of Directors?
The Board of Directors consists of three (3) persons elected by the Unit Owners. The number may be increased or decreased by amendment of the By-Laws, but it may not be fewer than three.
Source: document d5051bfa-4955-437c-a53f-a595f039b15f
How long is a Director’s term on the Board?
Each Director holds office for a term of one year and until their successor is elected and qualified. The amendment states that nothing prevents a Director from serving more than one consecutive term.
Source: document d5051bfa-4955-437c-a53f-a595f039b15f
Can more than one Director be replaced in the same election?
No. The amendment states that no more than one (1) Director may be replaced by election at any given election, so that there is only one newly elected Director at any given time.
Source: document d5051bfa-4955-437c-a53f-a595f039b15f
When do amendments to the Bankers Lofts bylaws become effective?
The document states that the bylaw amendment is effective only upon certification by the owners of the Condominium and recording in the St. Louis City Recorder of Deeds.
Source: document d5051bfa-4955-437c-a53f-a595f039b15f