Articles of incorporation - Study guides, Class notes & Summaries

Linda purchases property in Escambia County from Susan. Linda has $30,000.00 as a down payment and gets a mortgage in the amount of $150,000.00 and there is no other consideration for the transfer. How much will the doc stamp tax on the deed be? 1) $1,050.00 2) $1,260.00 3) $630.00 4) $525.00 - correct answer -$1,260.00 Tax calculation: $150,000 + $30,000 = $180,000/100 = 1800 (taxable $100 units) x $0.70 = $1260.00 tax due. Heather has been using a roadway at the back of the 22 acre...

A Community Association is generally defined as real or personal property, owned by two or more entities, which share the responsibility for the costs of maintenance and administration - True Purchasers of a timeshare plan have a ten day contract rescission period in which to cancel the purchase - True The Florida Fair Housing Act prohibits discrimination on the basis of handicap - True A valid Declaration of Condominium must contain easements for ingress and egress to all units and the co...

Canadian Legal System · Based on equity and common law (judge made) · Theory of Precedent · Legislative Corporations and Corporate Law · Articles of Incorporation/ Letters Patent · Jurisdiction of Incorporation · Objects · By-laws · Resolutions · Public vs. Private · Participants o Shareholders o Directors o Officers o Employees

2024/2025 LAW RESA Corporation Exam - Questions with Verified Answers, A Grade As regards the corporate by laws, which of the following is false? A. To adopt majority of the outstanding capital stock is needed B. To delegate to the BOD the power to amend, repeal, or adopt new by-laws, 2/3 of the outstanding capital stock C. To revoke the power delegated to the board to amend, repeal, or adopt new by-laws, 2/3 of the outstanding capital stock D. To amend, repeal or adopt new by-laws, majority o...

FL CAM License Exam 2023 Graded A+ 1. Condominium form of ownership is comprised of units owned by one or more persons and joint ownership of ________ share in the common elements. A. a percentage B. an undivided C. a proportional D. a complete - ANSWER-B. an undivided Condominium means individual ownership of a unit coupled with joint ownership of an undivided share of the common elements as well as mandatory membership in the association. 2. Under the General Corporate Law _______...

Fl Cam License Final Exam Test 2024/2025 1. Condominium form of ownership is comprised of units owned by one or more persons and joint ownership of ________ share in the common elements. A. a percentage B. an undivided C. a proportional D. a complete - CORRECT ANSWER-B. an undivided Condominium means individual ownership of a unit coupled with joint ownership of an undivided share of the common elements as well as mandatory membership in the association. 2. Under the General Corpo...

A Community Association is generally defined as real or personal property, owned by two or more entities, which share the responsibility for the costs of maintenance and administration correct answers True Purchasers of a timeshare plan have a ten day contract rescission period in which to cancel the purchase correct answers True The Florida Fair Housing Act prohibits discrimination on the basis of handicap correct answers True A valid Declaration of Condominium must contain easements f...

CAM LICENSE Exam Questions With Correct Answers Latest Updated 2024 (GRADED) Condominium form of ownership is comprised of units owned by one or more persons and joint ownership of ________ share in the common elements. A. a percentage B. an undivided C. a proportional D. a complete Correct Answer: B. an undivided Condominium means individual ownership of a unit coupled with joint ownership of an undivided share of the common elements as well as mandatory membership in the association. 2...

M100 Community Association Management Review Questions with 100% Verified Answers Each of the following are key characteristics of community associations EXCEPT: a. Mandatory lien-based economic charges or assessments are levied on each owner in order to operate and maintain the community association. b. Membership in the community association is mandatory and automatic for all owners. c. A requirement of community association ownership is serving on the board of directors. d. Cert...

M100 Community Association Management Exam Questions with 100% Verified Answers. Each of the following are key characteristics of community associations EXCEPT: a. Mandatory lien-based economic charges or assessments are levied on each owner in order to operate and maintain the community association. b. Membership in the community association is mandatory and automatic for all owners. c. A requirement of community association ownership is serving on the board of directors. d. Certain docu...