What is one major function of bylaws for a Homeowners Association (HOA)?

Bylaws for a Homeowners Association (HOA) serve as the fundamental governing document that establishes the operational framework of the association. Their primary function is to set the rules and regulations that dictate how the HOA will be run and how it will operate. This includes defining the roles and responsibilities of the board members, outlining the rights and obligations of the members, as well as detailing procedures for meetings, voting, and other governance matters.

While other aspects such as payment schedules for dues, penalties for members, and property maintenance considerations may be relevant to the overall functioning of the HOA, these elements are often covered in other governing documents or policies rather than the bylaws themselves. The bylaws provide the overarching guidelines that help ensure consistency and fairness in the governance of the community. Therefore, choosing the option that states that bylaws set the rules for the HOA captures the essential purpose of this legal document.