(Name, Registered Office, Duration)
The name of the Association is “Property Owners Association of Vale do Lobo”, has its registered
office in Vale do Lobo, parish of Almancil, council of Louie and is created for an unlimited period of
1. The Association is an entity independent of the Vale do Lobo group of companies and is a non
profit making organization.
2. The Association represents property owners in Vale do Lobo who recognise that Vale do Lobo is a
Luxury area where high quality standards must be maintained so that owners investment and quality
of life are preserved.
3. The Association has the following objectives:
4. To generally protect members’ rights and interests before any public or private entities.
5. To offer opinions and recommendations to its members.
6. To represent the members before Vale do Lobo Resort Turistico de Luxo S.A. and/or all the
companies of the Vale do Lobo Group, or its successors in title, mediating conflicts, to advise Vale do
lobo on the terms and conditions of the membership rendered by Vale do Lobo, offering opinions and
recommendations and generally maintaining a healthy dialogue with the different entities.
7. To represent the members before Infralobo – Empresa de Infraestruturas de Vale do Lobo E.E.M..
8. To offer opinions, recommendations and, in general, to help in the management of public
infrastructures and areas and facilities of common use.
9.To establish dialogue and cooperation with similar organizations.
10.To develop social, cultural and sports activities for the members, their families and guests.
11. Generally, to ensure that the development remains a pleasant community and a quality resort,
and defend the financial value of the members’ investments.
1. Any owner (individual or corporation) of real estate property, built and located in Vale do Lobo,
who agrees to the scope of the Association, and agrees to duly pay Vale do Lobo Membership
Charges, can become a member.
2. The membership terminates when the member ceases to be a property owner in Vale do Lobo,
ceases to pay Resort Service Charges or violates any of the terms and conditions as set out in these
The members have, among others, the following rights:
1. To participate in the Association’s activities in accordance with the scope defined in these
2. To attend and vote at the General Assemblies.
The members have, among others, the following obligations:
1. To pay the Vale do Lobo Membership Charges, necessary to maintain the high quality of the
resort, following negotiations held between the Executive Committee and Vale do Lobo Resort
Turistico de Luxo S.A. and any company of the Vale do Lobo group.
2. To pay the approved fees and to contribute towards the expenses of the Association, as decided
upon by the competent bodies.
3. To attend the General Assemblies and meetings to which they have been called.
4. To inform the Association about everything considered of importance, useful, or convenient, for the
prosecution of the Association’s aims.
1. The General Assembly will ordinarily be convened once a year, with notice being served by its
President, by letter, fax or electronic mail message with an acknowledgement of receipt request,
with, at least, 30 days notice, stating the agenda, the location and the date and hour.
Executive Committee Composition
1. The Executive Committee members, are elected by the General Assembly through secret votes.
2. The General Assembly appoints the Chairman.
The Executive Committee has the following powers:
1. To carry out the Association’s policy and manage its activity;
2. To carry out everything that may be necessary to fulfill the Association’s obligations and achieve
3. To manage the Association’s assets;
4. To set the dates and places for the General Assemblies;
5. To request the convening of the General Assemblies;
6. To admit and dismiss members;
7. To organize protocols to be entered into with other organizations;
8. To appoint attorneys and other representatives of the Association for specific matters;
9. To manage the Association’s relationship with all entities, public or private;
10. To appoint an independent entities for services if considered necessary;
11. To co-opt members or advisors on a temporary basis.
The Executive Committee will meet quarterly and, extraordinarily, when convened by the Chairman
or the majority of its members.
The decisions of the Executive Committee are taken by simple majority of its members.
The Association has the following sources of income:
1. 0,5% (point 5 percent) of the annual amount resulting from the payment of Resort Service
Charges, which however cannot annually exceed the amount of €10.000, with the respective
2. Any other voluntary payments received from the members of the Association;
3. Profits from any assets of the Association;
4. Interest on bank deposits;
5. Any levy considered necessary by the Executive Committee to stabilize the financial position of the