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The following is an excerpt from the LHMC Collection Policy adopted by the Board on April 11, 2000:
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Assessment statements will be mailed to all property owners of record by Century Small Business Solutions, formerly known as GBS (or designate). All assessments are due and payable to the Corporation on
September 1st of the assessment year.
- All amounts that are not paid before October 15th shall be deemed to be delinquent and will receive a second notice from Century Small Business Solutions
formerly known as GBS (or designate). A late charge of $10 will be assessed on October 15th, with late charges being assessed on the 15th of each succeeding month until the total outstanding assessment
and all late fees have been paid (Amended Bylaws, 10/10/91, Art. IV, Sec. 5).
- All amounts that remain unpaid on November 15th shall receive a third notice and will include an additional monthly
$10 late charge.
- On or about December 1st, the delinquent accounts will, at the Board's discretion, be given (a) to Transworld Systems Collection Agency (or Board designated collection agency)
or (b) to LHMC's legal counsel for processing and collection. The amount owed (including late fees) will include the cost of collection (currently $10).
Transworld will handle the delinquent accounts for about 2-1/2 months.
- Accounts not paid-in-full by March 1st will automatically be turned over to the Corporation attorney to pursue collection
efforts and remedies available. All applicable attorney's fees and costs, plus the monthly late charge, will be added to the account.
- Should the attorney obtain a judgment, the Board will
approve post judgment remedies on a case-by-case basis.
- All property owners with any delinquent amount outstanding are deemed to be "a member not in good standing." They will not be
allowed to vote on any matter regarding the Corporation, serve as a member of any committee, or be elected to the Board of Directors.
- Payment Plan Policy: Requests for special consideration of
hardship circumstances, including reasons why the Board should consider the request, must be submitted in writing to the Board in a timely manner. A payment plan may be accepted with terms to be approved
by the Corporation.
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