Document Restrictions

Hopefully a quick easy question that won't take to much of your time. Thanks in advance.

Question: Are HOA Board minutes and / or monthly financial reports "confidential documents" of a Homeowners Association?

The Board has started a website and posted meeting minutes and monthly financial information on the website. They mailed a letter to all homeowners telling them the password and how to access the information and telling them that it is considered confidential information. I'm just curious if a HOA can legally restrict it's members form sharing this information. I would think potential buyers would want to know the financial condition of the organization and sellers should have the right to show reports of such a general nature. But that's just my thought. Does a HOA Board have a legal right to restrict these documents to homeowner / members only? IS there legal precedent / case law where a Board's right to restrict this type of information was upheld. If such a restriction was ignored what legal ramifications might someone expect from the Homeowners Lawyer?

thanks
mark croft

http://www.majesticoaksfl.com/me/majestic-oaks/home-owners-only-6263.html

From the Board:
"Disclaimer to Homeowners

*We will be providing the password to Homeowners with the Election Ballots that will be sent through the mail*

This password and access to Majestic Oaks Homeowner’s Association financial statements and approved meeting minutes are confidential documents of Majestic Oaks Homeowners Association of Ocala, Inc. and are covered under the Fiduciary responsibility of the Board of Directors. This password and the contents of the “Homeowner Only” section of the web site should not be shared with anyone that is not a member of the association and/or not entitled to information about official business of the homeowners association. By accessing the above mentioned tab – “you acknowledge and agree to the duties/obligations/responsibilities to protect your association’s privileged information.""

Mark,

Can they stop you from sharing the information? No.
However, they can certainly make all sorts of official sounding statements to hope you don't share.

I wouldn't make too big of a fuss about it. If you do, the Association may simply stop posting the financial info on the website and require you to follow the procedures outlined in FL statutes to see such information.

BTW - you may want to read the Forum's posting rules

Mark.
1:I would not post financials on a community board. Ours has been hacked several times, even though thought secured with passwords and by the IP company. It is virtually inevitable nowadays.

2: By Florida law. all resient have a right to see , receive and inspect all fiancial documents, either at the management company , or via mail requesting the financial. There is a %40.00 per day penaly after 10 days for refusing to provide the documents, with a ten day cap. **

CHAPTER 720
HOMEOWNERS’ ASSOCIATIONS
PART I
GENERAL PROVISIONS
(ss. 720.301-720.316)

**(5) INSPECTION AND COPYING OF RECORDS.—The official records shall be maintained within the state for at least 7 years and shall be made available to a parcel owner for inspection or photocopying within 45 miles of the community or within the county in which the association is located within 10 business days after receipt by the board or its designee of a written request. This subsection may be complied with by having a copy of the official records available for inspection or copying in the community or, at the option of the association, by making the records available to a parcel owner electronically via the Internet or by allowing the records to be viewed in electronic format on a computer screen and printed upon request. If the association has a photocopy machine available where the records are maintained, it must provide parcel owners with copies on request during the inspection if the entire request is limited to no more than 25 pages. An association shall allow a member or his or her authorized representative to use a portable device, including a smartphone, tablet, portable scanner, or any other technology capable of scanning or taking photographs, to make an electronic copy of the official records in lieu of the association’s providing the member or his or her authorized representative with a copy of such records. The association may not charge a fee to a member or his or her authorized representative for the use of a portable device.
(a) The failure of an association to provide access to the records within 10 business days after receipt of a written request creates a rebuttable presumption that the association willfully failed to comply with this subsection.
(b) A member who is denied access to official records is entitled to the actual damages or minimum damages for the association’s willful failure to comply with this subsection. The minimum damages are to be $50 per calendar day up to 10 days, the calculation to begin on the 11th business day after receipt of the written request.

Tim, Thanks for the reply. Our Financials include all homeowners' addresses and e-mails, phones etc and how much they have paid in dues. That is the danger as far as our community documents was concerned. So we stopped such practice of posting on website. I don't know if such items appear in others financials.
Fred

Exactly. The financial report is too boring for the homeowners to read, why would outsiders care about it. Our board put up resistance to releasing the financial reports by saying outsiders might sue us for a made up trip and fall claim. But really we're so broke that our financial reports should be good lawsuit repellent.