MelissiaN (Tennessee)
Posts: 1
Posts: 1
Posted:
Our property owners association has lost there nonprofit status with tennessee. It says Inactive-Dissolved (Administrative). How will that affect our Liens and policies.
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Hoa lost Nonprofitrative status with state Tennessee
Started by MelissiaN • 5 replies • 698 views
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PainintheA
Posts: 77
Posts: 77
Posted:
I would say check with the Corporate Attorney
BUT
the corporation is dissolved
Y'all NEED an attorney and/or a manager so this Ka-Ka does not happen again.
You still have an HOA, it is merely NOT incorporated, which is VERY bad news for the membership as they are now open to PERSONAL liability for any and all 'events' occurring on a common element.
They could now, potentially, lose there homes as well as the common elements.
ATTORNEY - NOW
BUT
the corporation is dissolved
Y'all NEED an attorney and/or a manager so this Ka-Ka does not happen again.
You still have an HOA, it is merely NOT incorporated, which is VERY bad news for the membership as they are now open to PERSONAL liability for any and all 'events' occurring on a common element.
They could now, potentially, lose there homes as well as the common elements.
ATTORNEY - NOW
RichardP13 (California)
Posts: 3,868
Posts: 3,868
Posted:
Quote:
Posted By PainintheA on 08/05/2018 12:01 PM
I would say check with the Corporate Attorney
BUT
the corporation is dissolved
Y'all NEED an attorney and/or a manager so this Ka-Ka does not happen again.
You still have an HOA, it is merely NOT incorporated, which is VERY bad news for the membership as they are now open to PERSONAL liability for any and all 'events' occurring on a common element.
They could now, potentially, lose there homes as well as the common elements.
ATTORNEY - NOW
I would say check with the Corporate Attorney
BUT
the corporation is dissolved
Y'all NEED an attorney and/or a manager so this Ka-Ka does not happen again.
You still have an HOA, it is merely NOT incorporated, which is VERY bad news for the membership as they are now open to PERSONAL liability for any and all 'events' occurring on a common element.
They could now, potentially, lose there homes as well as the common elements.
ATTORNEY - NOW
Biggest load of Ka-Ka I've heard in a while.
PainintheA
Posts: 77
Posts: 77
Posted:
Has the HOA been dissolved? NO
Has the corporation been dissolved? YES
Is the sole purpose of incorporating to provide a 'corporate shield' against PERSONAL liability? YES
While my tone may, or may not, have been Tauric there was NO Ka-Ka produced - except by the ignorant former HOA manager who shat upon my answer.
Has the corporation been dissolved? YES
Is the sole purpose of incorporating to provide a 'corporate shield' against PERSONAL liability? YES
While my tone may, or may not, have been Tauric there was NO Ka-Ka produced - except by the ignorant former HOA manager who shat upon my answer.
PainintheA
Posts: 77
Posts: 77
Posted:
RichardP13,
I STRONGLT suggest, and anyone else interested in this thread, to 'google' {corporate shield}.
But, then, you would become somewhat KNOWLEDGEABLE about WHY 'most' HOAs are incorporated.
I have said my piece and am now OUT of this topic.
I STRONGLT suggest, and anyone else interested in this thread, to 'google' {corporate shield}.
But, then, you would become somewhat KNOWLEDGEABLE about WHY 'most' HOAs are incorporated.
I have said my piece and am now OUT of this topic.
TimB4 (Tennessee)
Posts: 21,062
Posts: 21,062
Posted:
Quote:
Posted By MelissiaN on 08/05/2018 11:28 AM
Our property owners association has lost there nonprofit status with tennessee. It says Inactive-Dissolved (Administrative). How will that affect our Liens and policies.
Our property owners association has lost there nonprofit status with tennessee. It says Inactive-Dissolved (Administrative). How will that affect our Liens and policies.
Melissa,
Typically, being administratively dissolved is a result of failure to file annual reports. It's easy to fix (and should be done). Failure to fix can result in being permanently dissolved and having to reincorporate.
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