1
   

NOT LESS THAN . . .

 
 
Reply Sun 20 Jan, 2008 01:31 pm
Please settle a friendly argument. Below is a state statute outlining assessments for homeowner's association. (condos)

The sentence in question is underlined, specifically "not less frequently than quarterly."

Some argue it means "not more than quarterly", others say it means "at least quarterly."

Any input is appreciated.



g) Assessments.--The manner of collecting from the unit owners their shares of the common expenses shall be stated in the bylaws. Assessments shall be made against units not less frequently than quarterly in an amount which is not less than that required to provide funds in advance for payment of all of the anticipated current operating expenses and for all of the unpaid operating expenses previously incurred. Nothing in this paragraph shall preclude the right of an association to accelerate assessments of an owner delinquent in payment of common expenses. Accelerated assessments shall be due and payable on the date the claim of lien is filed. Such accelerated assessments shall include the amounts due for the remainder of the budget year in which the claim of lien was filed.
  • Topic Stats
  • Top Replies
  • Link to this Topic
Type: Discussion • Score: 1 • Views: 1,287 • Replies: 10
No top replies

 
parados
 
  1  
Reply Sun 20 Jan, 2008 02:08 pm
I read it as being neither.

It can be ay time frame that is a quarter or longer. It can not be a time frame that is less than a quarter. For instance, you can't do the assessments monthly or twice a quarter.

More frequently than quarterly would be more than once a quarter. Less frequently would be anytime that is once a quarter or less. "Not less" means it can't be more than once a quarter.

The assessment can be yearly, once every 2 years or any other time frame as long as you only do the maximum of one assessment per quarter.
0 Replies
 
Mame
 
  1  
Reply Sun 20 Jan, 2008 02:08 pm
I think it means at least quarterly. Why don't people write what they mean? You shouldn't have to guess at intent.
0 Replies
 
TTH
 
  1  
Reply Sun 20 Jan, 2008 02:11 pm
I agree with Mame. When I first read the sentence I thought....at least quarterly.
0 Replies
 
contrex
 
  1  
Reply Mon 21 Jan, 2008 03:06 pm
Surely it is obvious that "not less frequently than quarterly" means "at least quarterly"?

"less frequently" means "less often" or "fewer occurrences per unit of time".

"not less" means "at least".
0 Replies
 
parados
 
  1  
Reply Mon 21 Jan, 2008 10:23 pm
If you search for "not less frequently than quarterly" you will find it used in lots of documents. Basically it is a legal term. Find a lawyer to interpret for you. You are getting bum advice here.


"Meetings shall be held from time to time but not less frequently than quarterly." The meetings do NOT have to be quarterly.

Making assessments on a condo more than once a quarter would be ridiculous and make a lot of people angry. Once a year would be normal but in unusual circumstances you can do it once a quarter. For instance if you have to do major repairs that were not calculated in the previous years assessment then you could hold a special assessment once every quarter.
0 Replies
 
farmerman
 
  1  
Reply Mon 21 Jan, 2008 10:51 pm
It states very clearly that , "we need operating money each year and all your little houses (meaning you the owner) will have to pitch in and pay up a years assessment broken down into equal payments at a rate of at least every three months (depending on whether the "quarterly"assessment rate covers our needs that particular year )

However, from time to time and based upon whether we may need more money to cover unanticipated stuff like damages to the (boat docks or extra snowplowing for example ) we may need you to pay us at a rate more frequently than every three months (like every two months, or even every month in order to keep our cash flow up to where we need it to be , so we can cover these expenses.

By the way, theres not a damn thing you can do about this clause it if you decide to go ahead and sign this contract bunkie. So if we were you, wed escrow the money annually and have it like a sinking fund "

Actually I made that last paragraph up cause its not implicit in the language of the contract. Its only common sense.
You pay a fixed amount each year , and you pay it quarterly usually, but you may have to amke more payments where you divvy up the years amount and pay it in more frequent but equal payments.


I think that lawyers, when they write, have got a vested interest to never use "plain ENglish'
0 Replies
 
contrex
 
  1  
Reply Tue 22 Jan, 2008 12:45 am
parados wrote:
"Meetings shall be held from time to time but not less frequently than quarterly." The meetings do NOT have to be quarterly.


They have to happen once a quarter at least.
0 Replies
 
joefromchicago
 
  1  
Reply Tue 22 Jan, 2008 12:47 pm
Maybe this thread should be in the Legal Forum.

As others have pointed out, "not less frequently than quarterly" means the same thing as "at least quarterly." In other words, the fewest number of assessment payments that a unit owner would make in a year is four, i.e. one per quarter -- it can't be less but it can be more than that.

parados wrote:
Making assessments on a condo more than once a quarter would be ridiculous and make a lot of people angry. Once a year would be normal but in unusual circumstances you can do it once a quarter. For instance if you have to do major repairs that were not calculated in the previous years assessment then you could hold a special assessment once every quarter.

Well, around these parts, monthly condo assessments are the norm. I've never heard of a condo association with quarterly assessments, let alone annual assessments, although I suppose a residential homeowners association might levy assessments on a quarterly or annual basis.
0 Replies
 
SULLYFISH66
 
  1  
Reply Tue 22 Jan, 2008 04:09 pm
Thanks to everyone who took time to reply!

I agree with Contrex: They have to happen once a quarter at least.

This is a method of computation, not an actual bill or payment (although I talk to people in Florida who DO make monthly assessment payments.)

It is a way to require the board to justify the assessment figure at the most current time.
0 Replies
 
contrex
 
  1  
Reply Tue 22 Jan, 2008 04:43 pm
I don't know if it's different in the US, but in British legal terminology, "quarters", when related to rents, leases, etc, has a specific meaning.

In British and Irish tradition, the quarter days were the four dates in each year on which servants were hired, and rents and rates were due. They fell on four religious festivals roughly three months apart.

The significance of quarter days is now limited, although leasehold payments and rents for business premises in England are often still due on the old English quarter days.

The English quarter days (also observed in Wales) are:

* Lady Day (March 25)
* Midsummer Day (June 24)
* Michaelmas (September 29)
* Christmas (December 25)

(Note that in the Julian calendar, Lady Day was the first day of the year)

So, if an event needed to take place "not less frequently than once each quarter" that would mean that it had to happen at least once between March 25 and June 24th, and at least once between June 25th and September 29th, and so on through the year. Having the thing happen on each quarter day was a convenient way to fulfil the requirement.
0 Replies
 
 

Related Topics

Drs. = female doctor? - Question by oristarA
Let pupils abandon spelling rules, says academic - Discussion by Robert Gentel
English tense - Question by jonnywalker00
temperature - Question by WBYeats
Is this comma splice? Is it proper? - Question by DaveCoop
Another brick in the wall - Question by milimi
Can I apply for a change of topic? - Question by WBYeats
Thou or thee? - Question by Aubert23
 
  1. Forums
  2. » NOT LESS THAN . . .
Copyright © 2014 MadLab, LLC :: Terms of Service :: Privacy Policy :: Page generated in 0.06 seconds on 11/23/2014 at 03:37:15