All maintenance payments are technically due on the first of every month. However, the Board of Directors has instituted a grace period until the 10th, after which time a $50.00 late fine is imposed. The late fine is assessed for all payments received by the bank after the 10th and neither the Managing Agent nor the Board of Directors will be responsible for the US Postal Service.
In addition to paying by check, ACH or RPS (Remittance Payment Processing), you have the ability to pay online directly from your checking or savings account. For details please contact the Managing Agent.
All billing inquiries are to be directed to either the Managing Agent or the Collection Manager in the agent’s office. The Managing Agent is required to bring to the Board of Directors attention to all Shareholders who are delinquent in their maintenance obligations. The Managing Agent is responsible for instituting legal action against all Shareholders who are two months behind in their financial obligations to the cooperative corporation. The Board of Directors will ultimately decide on disputes regarding payments.