BernardH (Virginia)
Posts: 28
Posts: 28
Posted:
Our board suggests to have a new policy voted to have regard on the records.
I have copied below the draft.
I understand that the managment that we pay, will archive our records and we have to pay to retrieve them, also homeowners (whose) will be waived fees(what criteria) by the board.
It seems to me a mean against hoemowners instead of a better way to transparency.
Is this legal to suggest this kind of bylaw, which will be easily voted by the majority of the board?
Thank you.
......... Records Policy
The Bylaws of the .........Owners Association Article X, Section 10.3 States:
“The Association shall make available to the Owners and their mortgagees, current copies of the Declaration, Articles of Incorporation, Bylaws and the Book of Resolutions governing the Property and the books, records and financial statements of the Association. “Available” means available for inspection upon request during normal business hours or other reasonable circumstances at the office of the Association where copies may be purchased at reasonable cost.”
The .........Board of Directors implements the following Policy with regards to Records:
1. The Declaration, Articles of Incorporation, Bylaws and the Book of Resolutions governing the Property shall be maintained on the Highgate website for ease of access by the Owners.
2. The .......... quarterly financial reports and annual financial audit report shall be posted on the Highgate web site for ease of reference by the Owners.
Detail records may be inspected at the offices of the property manager, currently ........... Management. Current records may be viewed at no cost. Older records which have been sent to the Archives may be viewed by paying the cost to retrieve the record from the Archives. The property manager will provide an estimate of the cost of retrieval upon request. The .......... Board of Directors may waive the cost of retrieval to the Owner or Mortgagee and agree to have the Association assume this cost if sufficient reason for the need to view the record is
I have copied below the draft.
I understand that the managment that we pay, will archive our records and we have to pay to retrieve them, also homeowners (whose) will be waived fees(what criteria) by the board.
It seems to me a mean against hoemowners instead of a better way to transparency.
Is this legal to suggest this kind of bylaw, which will be easily voted by the majority of the board?
Thank you.
......... Records Policy
The Bylaws of the .........Owners Association Article X, Section 10.3 States:
“The Association shall make available to the Owners and their mortgagees, current copies of the Declaration, Articles of Incorporation, Bylaws and the Book of Resolutions governing the Property and the books, records and financial statements of the Association. “Available” means available for inspection upon request during normal business hours or other reasonable circumstances at the office of the Association where copies may be purchased at reasonable cost.”
The .........Board of Directors implements the following Policy with regards to Records:
1. The Declaration, Articles of Incorporation, Bylaws and the Book of Resolutions governing the Property shall be maintained on the Highgate website for ease of access by the Owners.
2. The .......... quarterly financial reports and annual financial audit report shall be posted on the Highgate web site for ease of reference by the Owners.
Detail records may be inspected at the offices of the property manager, currently ........... Management. Current records may be viewed at no cost. Older records which have been sent to the Archives may be viewed by paying the cost to retrieve the record from the Archives. The property manager will provide an estimate of the cost of retrieval upon request. The .......... Board of Directors may waive the cost of retrieval to the Owner or Mortgagee and agree to have the Association assume this cost if sufficient reason for the need to view the record is