BB2 (Missouri)
Posts: 36
Posts: 36
Posted:
Is it a little unusual for the checks issued by our HOA to have only the name of the association - no address phone city or state on them? Also only one signature on them and the bank account.
A service of:
Community123.com
Professional websites for HOAs & condos, since 2004
Professional websites for HOAs & condos, since 2004
🎁 1st year FREE for HOATalk members! →
HOA checks
Started by BB2 • 5 replies • 1212 views
💬 Join us to post & get advice from 50,000 HOA & Condo leaders.
Create Free Account →
⚡ Takes 30 seconds
Already a member? Log in
MaryA1 (Arizona)
Posts: 7,043
Posts: 7,043
Posted:
Quote:
Posted By BB2 on 01/05/2009 1:41 PM
Is it a little unusual for the checks issued by our HOA to have only the name of the association - no address phone city or state on them? Also only one signature on them and the bank account.
Is it a little unusual for the checks issued by our HOA to have only the name of the association - no address phone city or state on them? Also only one signature on them and the bank account.
BB2,
I don't think it's cause for alarm if that's what you're concerned about. The board may have felt the address and phone nr be eliminated for security reasons. Does the assn even have a phone nr???? The fact that only one signature is on the check is not uncommon. Even when two signatures are required, many banks will honor the check if only one signature is on it.
MicheleD (Kentucky)
Posts: 4,491
Posts: 4,491
Posted:
Quote:
Posted By MaryA1 on 01/05/2009 1:51 PM
Posted By BB2 on 01/05/2009 1:41 PM
Is it a little unusual for the checks issued by our HOA to have only the name of the association - no address phone city or state on them? Also only one signature on them and the bank account.
Is it a little unusual for the checks issued by our HOA to have only the name of the association - no address phone city or state on them? Also only one signature on them and the bank account.
BB2,
I don't think it's cause for alarm if that's what you're concerned about. The board may have felt the address and phone nr be eliminated for security reasons. Does the assn even have a phone nr???? The fact that only one signature is on the check is not uncommon. Even when two signatures are required, many banks will honor the check if only one signature is on it.
Not only do many banks honor the single signature, many don't even regularly look at the signature, so it's sort of moot.
Our checks only have our HOA name on them. When the account was set up, we did not have a PO Box yet and we didn't have a "phone number" until we got a cell phone this year.
Since we write maybe 4 checks a month, and always to the same vendors, it's never been an issue.
RobertR1 (South Carolina)
Posts: 5,164
Posts: 5,164
Posted:
BB2,
To answer your question.
Is it a little unusual for the checks issued by our HOA to have only the name of the association - no address phone city or state on them? Also only one signature on them and the bank account.
*****************************
Yes, it is a little unusual for an association to transact business with a check as you discribe.
However, it is done routinely by some HOA's and Banks sometimes are not aware of some covenant requirements concerning the proper form for association checks.
This practice does not constitute wrong doing, there can be reasons checks are issued this way. If you have doubts, I would check your CC&r's and ascertain the proper procedures for writing checks. If you then feel a problem exists, I would contact the Board by letter and state your concerns.
To answer your question.
Is it a little unusual for the checks issued by our HOA to have only the name of the association - no address phone city or state on them? Also only one signature on them and the bank account.
*****************************
Yes, it is a little unusual for an association to transact business with a check as you discribe.
However, it is done routinely by some HOA's and Banks sometimes are not aware of some covenant requirements concerning the proper form for association checks.
This practice does not constitute wrong doing, there can be reasons checks are issued this way. If you have doubts, I would check your CC&r's and ascertain the proper procedures for writing checks. If you then feel a problem exists, I would contact the Board by letter and state your concerns.
MaryA1 (Arizona)
Posts: 7,043
Posts: 7,043
Posted:
Michele,
You said: "When the account was set up, we did not have a PO Box yet and we didn't have a "phone number"."
Funny, I was thinking the exact same thing as I typed my response but just didn't include it as a reason.
As they say, great minds think alike. LOL
You said: "When the account was set up, we did not have a PO Box yet and we didn't have a "phone number"."
Funny, I was thinking the exact same thing as I typed my response but just didn't include it as a reason.
As they say, great minds think alike. LOL
RobertR1 (South Carolina)
Posts: 5,164
Posts: 5,164
Posted:
Hey,
I just thought of another good reason checks may be used like this.
When you open a new account at a bank they give you a number of "sample" checks to use until the printed ones are mailed to you.
Not suggesting anything, but, if your association has had an account with named checks and all of a sudden there appears checks as described by the OP and the account # is different, I might just want to look into that little # further. IMHO
I just thought of another good reason checks may be used like this.
When you open a new account at a bank they give you a number of "sample" checks to use until the printed ones are mailed to you.
Not suggesting anything, but, if your association has had an account with named checks and all of a sudden there appears checks as described by the OP and the account # is different, I might just want to look into that little # further. IMHO
🎯 You've read this entire discussion
Join the conversation with 50,000 HOA & Condo Leaders:
- ✓ Ask follow-up questions
- ✓ Share your experience
- ✓ Get expert advice
- ✓ Access 350,000 discussions
Create Free Account →
⚡ Takes 30 seconds
Already a member? Log in here