BonnieG1 (Nebraska)
Posts: 1,186
Posts: 1,186
Posted:
Part of the letter says "This is not the first time ou have been contacted to improve on your interpersonal skills. I wanted to see previous letters sent from the Board to this owner. I have only seen one and that one stated that we do not have to release any financial information per our lawyer at that time.
We began in 1981. I checked our state statues and found nothing that requires us to release financial info to the owners and I don't remember reading anything about requiring this release of financial info in our Master Deed.
I did find statue 79-876 that requires a Condo Association release financials, but that is for Associations started after 1984.
Even if we aren't required by law, I see no problem in letting any owner that request this information see it. I see many problems by not releasing them when they are requested by an owner.
In your opinion are we or are we not required to release financials. Thanks for your help.
O the letter I read to this lady said the Board was all volunteer which was not true, the bookkeeper and manager (both Board members) were receiving pay for their work.
We began in 1981. I checked our state statues and found nothing that requires us to release financial info to the owners and I don't remember reading anything about requiring this release of financial info in our Master Deed.
I did find statue 79-876 that requires a Condo Association release financials, but that is for Associations started after 1984.
Even if we aren't required by law, I see no problem in letting any owner that request this information see it. I see many problems by not releasing them when they are requested by an owner.
In your opinion are we or are we not required to release financials. Thanks for your help.
O the letter I read to this lady said the Board was all volunteer which was not true, the bookkeeper and manager (both Board members) were receiving pay for their work.