Refusing to Show/Prove Finanacials

We just purchased a vacation rental that is in a HOA. This is near Pigeon Forge (Sevierville) , Tennessee. We soon discovered that bills are paid late (incurring late charges) the treasurer missed filing the actual corporation papers so as of right now the HOA is dissolved. Our water bill is paid by the HOA (one meter split by 11 rentals) I requested a copy of 2012 P&L and it indicated that the cost of the insurance was $1965, however when I contacted the insurance co and got a copy of it, the cost stated $550....so I know it is common for everyone on this forum to want to know why I want copies of at least 18 months of bank statements... to see where the "extra" money went. I have been refused because the treasurer indicated in an email that she is not required to give me bank statements and that the accounting statements are enough.

Aside from me paying an attorney out of pocket, do I have any other choice but to just accept this and let her be in total control? None of the other members want to rock the boat with her because she owns the pool, which is excluded from the HOA (by recorded deed) so they are all afraid if they piss her off, she will close the pool. According to the Bi-laws she cannot even be on the Board but they voted her on anyway because of this stupid pool. It would appear that there is money not account for, but if I can only see her quickbooks entries and not the actual bank statements, I really can't be sure. She is also not allowed to be on the board, but they are all afraid of her. I can't even believe this really.

Any ideas would be appreciated I am soooo frustrated - the last thing I want to do is pay money to a corrupt HOA, but then I lose my home if I don't because they can foreclose for unpaid dues. And I certainly am not going to pay out-of-pocket for an Attorney - that will add up to thousands - quick!

Thanks TimB4 for your reply.
Question - what is CC&Rs? Is that another word for Bi-Laws or is that a different animal? What do the letters stand for? Is that filed at the deeds office? I am new to HOAs so I don;t know the industry lingo yet, I have seen that term in other topics but assumed it was the bi-laws.

The treasurer makes herself hidden. Her mailing address is a vacant lot with a mailbox (I drove there and looked) that is where our payments go, too - she already told me in a email (after I sited a TN law that she has to let me see the financials and she has 10 days to do so and charge me a fee if necessary), that " I do not feel comfortable providing account numbers to people I do not know. I am responsible and how do I know you will not try to take money from the account?" I have only been an owner for 2 months and she said I am also not entitled to see anything prior to my closing date this past January. She is definitely on the defensive but if there is nothing to hind, then why not make them available? Come to find out, she is married to the developer/builder that built these rentals and he got indited last fall and is awaiting sentencing for wire fraud and a whole list of actions dealing with this resort and one other resort and is likely to spend the next 30 years in the clank. We have been told by another owner to stop making waves cause they will take the pool away.

She agreed to a meeting last weekend, but canceled - so supposedly we have a meeting on the 27th of this month...but it would be much more beneficial if we all could review this stuff on our own time and then come to the meeting with questions - but no one, except one other owner is jumping in on the emails. No one wants to loose the precious pool. I'd be happy to take over, all these owners live out of state and I live 2 minutes from the resort. My husband and i can make a big difference if we got involved, but we are the new kids and not conforming to the pressure.

I am so sorry we bought in this resort - so very regretful.

That is helpful, thanks... I believe the document i have is the deed (CC&Rs) with the Bi-Laws being Section 8 of that document. they are filed as one document, not two - so I believe I have all the correct copies that we got right from the title company when we closed.

This is a vacation rental resort, developed as a PUD over 10 years ago. There are 11 rental log cabins in this resort with one undeveloped, privately owned lot. There are 3 common areas and what we thought was the fourth common area turns out to be a privately owned lot with a pool, excluded from the Association (per the deed). the Association is being ran by the HOA members and elected Board, the Declarant has not been involved since 2007 as I understand the deed. The Declarant is the father of the Treasurer and the pool owner though...