South Carolina Code 27-30-120. Definitions
(1) "Board" means the representative body, regardless of name, designated in the governing documents to act on behalf of a homeowners association and govern the association.
Terms Used In South Carolina Code 27-30-120
- association: means an entity developed to manage and maintain a planned community or horizontal property regime for which there is a declaration requiring a person, by virtue of his ownership of a separate property within the planned community or horizontal property regime, to pay assessments for a share of real estate taxes, insurance premiums, maintenance, or improvement of, or services or other expenses related to, common elements and other real estate described in that declaration. See South Carolina Code 27-30-120
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Declarant: means a person or group of persons acting in concert who:
(a) as part of a common promotional plan, subdivide and offer to dispose of an interest the person or group has in a unit in real property; or
(b) reserve or succeed to a special declarant right, which means a right created under the declaration or bylaws for the person or group to retain or exercise authority in addition to regular declarant rights in a unit of real property. See South Carolina Code 27-30-120 - Declaration: means the recorded instruments, however denominated, that create a homeowners association, including amendments to those instruments. See South Carolina Code 27-30-120
- Governing documents: means declaration, master deeds, or bylaws, or any amendments to the declaration, master deeds, or bylaws. See South Carolina Code 27-30-120
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Unit: means an apartment in a horizontal property regime, or a lot in a subdivision. See South Carolina Code 27-30-120
(2) "Declarant" means a person or group of persons acting in concert who:
(a) as part of a common promotional plan, subdivide and offer to dispose of an interest the person or group has in a unit in real property; or
(b) reserve or succeed to a special declarant right, which means a right created under the declaration or bylaws for the person or group to retain or exercise authority in addition to regular declarant rights in a unit of real property.
(3) "Declaration" means the recorded instruments, however denominated, that create a homeowners association, including amendments to those instruments.
(4) "Governing documents" means declaration, master deeds, or bylaws, or any amendments to the declaration, master deeds, or bylaws.
(5) "Homeowner" means a declarant or other person who owns a unit in a homeowners association, but does not include a person having an interest in such a unit solely as security for an obligation.
(6) "Homeowners association" or "association" means an entity developed to manage and maintain a planned community or horizontal property regime for which there is a declaration requiring a person, by virtue of his ownership of a separate property within the planned community or horizontal property regime, to pay assessments for a share of real estate taxes, insurance premiums, maintenance, or improvement of, or services or other expenses related to, common elements and other real estate described in that declaration. A "homeowners association" or "association" does not include a vacation time sharing plan organized and subject to the provisions of Chapter 32.
(7) "Homeowners association management company" means a corporation, limited liability company, partnership, trust, association, sole proprietorship, or other similar organization engaging in the business of managing homeowners associations.
(8) "Unit" means an apartment in a horizontal property regime, or a lot in a subdivision.