4.02 Authority; Installment Payments

FCHOA Declaration of Protective Covenants - Revision Date: 2022-05-20

As set forth in the Property Owners’ Association Act (Va. Code Ann. § 55.1-1800, et seq.), this Declaration, or the Bylaws, the Board of Directors has the power and authority to establish Annual Assessments, Special Assessments, and Individual Assessments. The Board of Directors shall determine the date each Assessment is due and may permit an Assessment to be paid in installments extending beyond the fiscal year in which it is imposed.