Quote:
Posted By JosephO1 on 10/11/2016 6:42 AM
Our HOA charter has been expired for 5 years, we are attempting to reinstate, but what does that mean for our board, the decisions made for said time, unpaid dues, and new members to our community within that timeframe, basically the rights of the board versus the rights of homeowners during that time period, and can the homeowners dissolve the HOA because of that?
What do you mean by HOA charter? Are you referring to the charter for the incorporated homeowners association or the CC&R's under MRTA? If you are referring to the charter for the corporation, I may be able to offer up some general insight that may or may not apply in Florida.
In most states, a corporation must file some sort of annual report. These are easily overlooked and after a period of time the state will administratively dissolve the corporation if the reports are not filed. Filing delinquent reports and paying any outstanding fees will normally reinstate the corporation.
Typically, the corporation is permitted to continue as an entity during a period of administrative dissolution but only for limited purposes. It may, for example, pursue any efforts to collect money that was owed to it prior to dissolution. It may sell off or dispose of its property. It may not, however, continue business as usual while it is dissolved. That means it cannot collect assessments or engage in any efforts to collect those assessments that accrued during dissolution.
I do not have a clue as to what might happen if an HOA was dissolved for a long period and then reinstated. My first guess would be that any assessments that accrued during the period of dissolution would not be collectible or actionable. But that is just a general guess. An attorney specializing in Florida corporate law or HOA law should be able to provide a more definite answer.