Scottsdale Shadows is a Community consisting of RCI (an Arizona not-for-profit corporation) and 7 independent Horizontal Property Regimes (HOA's). RCI is not an HOA and is governed by the Arizona not-for-profit Corporation Law. The Regimes are independent not-for-profit HOA's, governed by laws pertaining to Arizona HOA's.
RCI owns all of the Common Areas, roadways, building 20 (administration and Community Center), pools, tennis courts, golf course, outside parking areas and the like. The Regimes own their respective buildings and the Common Elements; areas common to all residents living in the Regime buildings.
RCI is also the Management Company for each of the Regimes with responsibilities and duties as outlined in the Management Agreements between RCI and each Regime.
There is a master insurance policy that covers RCI, the Regimes, all Officers & Directors, as well as RCI employees. THIS MASTER POLICY DOES NOT COVER THE UNITS INDEPENDENTLY OWNED BY RESIDENTS, INCLUDING ALL ELECTRICAL FACILITIES, PIPING AND OTHER ELEMENTS CONSTITUTING A UNIT. FOR THIS REASON IT IS ESSENTIAL FOR EACH UNIT OWNER TO INDEPENDENTLY MAINTAIN A POLICY OF HOMEOWNER'S INSURANCE TO COVER PROPERTY DAMAGE SUFFERED BY THE OWNER FROM WHATEVER CAUSE, PROPERTY DAMAGE CAUSED BY THE OWNER TO ANOTHER OWNER, OR TO THE REGIME, AS WELL AS LIABILITY COVERAGE. Failure to maintain such a policy of Homeowner's Insurance could result in the Unit owner incurring significant expenses for property damage or personal injury.