Condo Laws?

[Yadda]

Isn't it a requirement of the Condo Laws in each state that owners must get regular financial statements for the Condo Association?

[dpb]

What specifically, and what are requirements on the organization of the association that will trigger what levels/types of reporting definitely will depend on the state in question. Look on your state's web site for starters; most have direct links to housing issues...

--

[AZ Nomad]

wtf has this to do with home repair?

Do you really care what states outside yours are doing? Can't you figure out how to start a web browser, go to google, and come up with some clever search string like " condo law financial statement" ?

I found it for my state in under two seconds.

[Robert Neville]

Since law varies from state to state, your question can't be answered as stated.

That said, why make a legal project out of it? If you are a member of the association you are almost certainly entitled to ask for a copy of the association financials. Ask the association treasurer...

[norminn]

In my state, Florida, the full statute governing condominiums is online. Condo's in Florida are also corporations, so more statutes. Until about 10 years ago, I believe, Florida condos and co-operatives came under the same statutes. I know for fact that Florida requires certain records to be available and copies provided if requested...if your condo has a management company, the financials and other records may be provided by them. Call them, or a member of your condo board.

Florida also has regs for reserve funds, annual budget approval, etc. In the past couple of years, Fl. condo laws have been tightened up, even to the extent that board members sign a statement that they have read the statutes (or bylaws?)...I fully understand the reason for that particular law.

[Charlie]

I'm in Florida too and have often thought that an IQ test might be appropriate.

Charlie

[h]