Getting Info from Ex-board member

Started by BethS1 • 3 replies • 1417 views

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BethS1 (New York)
Posts: 28

Posted:

We are unable to get all information on any loans, bank accounts that our last board president took out or used. Is a Credit Report a good way to do it? Can a bank search our association name for any info? We are small and cannot afford a expensive audit. Is there a way we can charge him to force him to disclose and account for any monies that may have been mismanaged or used for his own personal use?

RonaldW (South Carolina)
Posts: 901

Posted:

Posted By BethS1 on 01/10/2007 3:57 PM

We are unable to get all information on any loans, bank accounts that our last board president took out or used. Is a Credit Report a good way to do it? Can a bank search our association name for any info? We are small and cannot afford a expensive audit. Is there a way we can charge him to force him to disclose and account for any monies that may have been mismanaged or used for his own personal use?

Did you ask him? What was his response? Why do you think he used HOA funds for his personal use? Do you have evidence?

Ron
SC

BethS1 (New York)
Posts: 28

Posted:

He's been asked over and over, and the last board obviously didn't have a spine to force the issue. The new board does and has since moved on to get the information in other legal ways. We wouldn't know if there is mismanagement or not until we get all our books and information. But one would assume that if there wasn't a problem then we'd get the information without all the games.

RogerB (Colorado)
Posts: 5,067

Posted:

Beth, you present a good example for doing a financial review each year. Why was the President the custodian of the financail information rather than the Treasurer? And if your assoication is incorporated your registered agent should have all of the records of the association. Until the records have obtained and reviewed it is best to not accuse anyone of wrong doing.

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