The Various Association Meetings, An Overview

Questions arise about association meetings such as the differences, legal requirements and procedures.  While association meetings may not have all the same legal requirements and procedures, whatever the requirements, they must be followed. Generally speaking, meeting requirements are found in the association’s bylaws, however, there may be meeting requirements in the association’s declarations.  So what…

Directors & Officers Insurance

Directors and Officers liability insurance (D&O) provides coverage in the event of a lawsuit claiming some Board or individual Directors’ act or omission.  D&O insurance does not protect the association when a claim is made for personal injury or property damage as a result of negligent actions of the Board of Directors. Personal injury and…

Board Meetings 101

Board of Directors’ Meetings can be a very powerful way to communicate and resolve issues. An association’s Board of Directors is confronted with an array of issues that must be resolved in a timely manner.  Thus a Board is charged with what can be the problematical task of obtaining a majority consensus amongst the Board…

The Association Structure

How an Association is Formed A homeowner association or condominium association is a nonprofit corporation formed, usually, by a real estate developer for the purpose of marketing, managing, and selling homes/lots or units in a development. The governing documents of the association grants the developer special voting rights in the operation of the association, while…

The Financial Statements

The Financial Statements have one primary function: Provide the Board with the financial information to make decisions relating to the Association’s financial situation The association’s financial statements are the summary of the financial activity of the association during a given period of time.  Financial statements are the final product of the accounting function.  There are…

Online Meetings

It seems these days everyone’s schedules are more hectic than ever, and board members schedules are no different.  Because of scheduling difficulty and, in some cases, convenience, we have boards of directors that hold their board meetings via online services such as Skype, GoToMeeting, and Google Plus Hangouts. With these online services, board members have…

Association Terminology

Certain terms are used incorrectly or generically when discussing association issues.  For example, the CC&Rs are often incorrectly referred to as the bylaws or the membership believes they are voting for the officers of the board of directors during an annual meeting. Articles of Incorporation: Are the basic charter of an association corporation which spells…

Short Term Rentals & The HOA

Short term rentals, be it overnight stays or weeklong rentals, seem to be becoming more prevalent in homeowner and condominium associations as of late.  Some blame the advent of online services that help facilitate these activities, or it could seem more prevalent because of the ease of finding out a neighbor is advertising their home…