HOA_Horrors
Junior Member
What is the name of your state (only U.S. law)? TX
I have recently found some very disturbing results in a recent audit. There is a majority owner (who is the board, in essence) who waived all late fees and therefore did not make any payments (there is no incentive if you are not accruing interest or being charged late fees), then the board gave a 4-month credit due to a supposed "overage," which just means next time insurance comes up there will not be enough funds. This is just a shady outfit, but feel there are no legal ramifications (not that I am interested in suing just do not want to continue to get ripped off, i.e., if the board makes decisions not in the interest of the complex.) The problem is now I find out that the complex is not in good standing with state so therefore, no corporation laws exist. I am in the process of finding out if it was just back taxes or what the fault was. I understand the board is now liable and of course myself as a member. I guess I want to know if state laws do not cover non-profit corporation then the by-laws as a binding agreement are still in effect, correct? I have requested an audit and find that now they are holding me to pay for the copies, versus I just want to "inspect" the records at the principal location of the firm. I will pay for the copies I need but I do not need copies of all invoices. The state laws no longer are applicable but the by-laws say you can inspect on site during reasonable business hours.
I have recently found some very disturbing results in a recent audit. There is a majority owner (who is the board, in essence) who waived all late fees and therefore did not make any payments (there is no incentive if you are not accruing interest or being charged late fees), then the board gave a 4-month credit due to a supposed "overage," which just means next time insurance comes up there will not be enough funds. This is just a shady outfit, but feel there are no legal ramifications (not that I am interested in suing just do not want to continue to get ripped off, i.e., if the board makes decisions not in the interest of the complex.) The problem is now I find out that the complex is not in good standing with state so therefore, no corporation laws exist. I am in the process of finding out if it was just back taxes or what the fault was. I understand the board is now liable and of course myself as a member. I guess I want to know if state laws do not cover non-profit corporation then the by-laws as a binding agreement are still in effect, correct? I have requested an audit and find that now they are holding me to pay for the copies, versus I just want to "inspect" the records at the principal location of the firm. I will pay for the copies I need but I do not need copies of all invoices. The state laws no longer are applicable but the by-laws say you can inspect on site during reasonable business hours.