no meetings no budget, etc

Nobody seems to care - now. But after the developer is gone, and you and your fellow homeowners begin to find construction defects in your property, EVERYONE will care.

To answer your larger question: Your state has laws that determine the rights and responsibilities of everyone involved in a community association. Not sure if you live in a condominium, but if so, the State of Illinois has a specific set of statutes that pertain to you, called the Illinois Condominium Property Act. No matter what sort of association you live in, you have a set of by-laws that spell out at least the minimum requirements for how the association is to be run, and covers such subjects as meetings, fiduciary responsibility, quorums necessary to conduct business, and so on.

A good place for you to start to become educated about these matters is here:

http://www.cai-illinois.org/Community-Association-Questions-and-Answers~7021~264.htm

Here's an important question and answer from this site:

Question 6: What laws govern community associations in Illinois?

Answer: All condominium associations in Illinois are covered by the Illinois Condominium Property Act. The Illinois Condominium Property Act statute number is 765ILCS 605/1. The Illinois Condominium Property Act is constantly updated. If you need a copy of the Act, you can download it free from this website or you may contact Community Associations Institute and they can alert you as to where you can obtain this document. If you reside in a common interest community, which includes most townhome and homeowner associations throughout the State of Illinois, only Section 18.5 (c) through (h) of the Illinois Condominium Property Act applies to these associations.

In addition, if your association is a not-for-profit corporation, then it is also governed by the Illinois General Not-For-Profit Corporation Act of 1986. The Illinois Condominium Property Act will supersede the General Not-For-Profit Corporation Act to the extent that they differ. In addition, the Illinois Condominium Property Act will supercede the provisions of your Declaration if your association is a condominium association.

If you have questions regarding the applicability of a certain law on your association, we recommend that you consult an attorney for further clarification.

Hope this helps.

Rob

Michael you are kind of asking the same question here as in your previous post. Did you review your State Statutes? Per that post:

Check to see when your declaration was filed and calculate the three year period. The earlier of this date or when about the 26th unit is sold will be essentially the turn over period. Also, per the statutes:

(765 ILCS 160/1 50)
Sec. 1 50. Administration of property prior to election of the initial board of directors.
(a) Until the election of the initial board whose declaration is recorded on or after the effective date of this Act, the same rights, titles, powers, privileges, trusts, duties, and obligations that are vested in or imposed upon the board by this Act or in the declaration or other duly recorded covenant shall be held and performed by the developer.

As imposed upon the board (unless you HOA documents may state otherwise):

(765 ILCS 160/1 30)
Sec. 1 30. Board duties and obligations; records.
(a) The board shall meet at least 4 times annually.

When you become your own association it will be the same rules … meetings, budgets, etc. To insure you eliminate future problems, work with the developer so everything in the state statutes and your governing documents is followed.

At this time the developer has the fiduciary responsibility and is the liable party.