RogerJ1 (Texas)
Posts: 550
Posts: 550
Posted:
Based on the pattern of an association over recent years (eight directors have resigned), and the current situations with the board (down to three, indirect lawsuits, other adverse situations), there is a fair chance that everyone, or all but one person, resign at at anytime.
If that were to happen, what course of actions would be available to membership? Also, what happens if no party seeks receivership? It has few contractors*,and with their interaction being small dollars, I highly doubt any of those parties would file for receivership, and with no members wanting to be on the board, I could not see any members filing for receivership either.
*a power company from which it leases street lights, grass cutter who cuts grass on private property, owned by others not the Association, that fronts the subdivision, web hosting company, and maybe some lessor vendors, like private mail room were it rents a PO box, I have forgotten.
If that were to happen, what course of actions would be available to membership? Also, what happens if no party seeks receivership? It has few contractors*,and with their interaction being small dollars, I highly doubt any of those parties would file for receivership, and with no members wanting to be on the board, I could not see any members filing for receivership either.
*a power company from which it leases street lights, grass cutter who cuts grass on private property, owned by others not the Association, that fronts the subdivision, web hosting company, and maybe some lessor vendors, like private mail room were it rents a PO box, I have forgotten.