Section NameSection Number
Definitions§ 5-6B-01
Contract for initial sale of cooperative interest; public offering statements§ 5-6B-02
Rescission; amendments to public offering statement; failure of developer to comply with section; return of deposits; liability for misrepresentation; waiver of rights; sale of units for nonresidential purposes§ 5-6B-03
Warranties§ 5-6B-04
Notice of conversion to tenants§ 5-6B-05
Option to purchase§ 5-6B-06
Lease extension for designated households§ 5-6B-07
Right of local governments to first right of purchase§ 5-6B-08
Authority of local governments to require first right of purchase at same terms§ 5-6B-09
Actions by local governments to protect consumers from displacement during rental housing emergency§ 5-6B-10
Deposits made on sale of cooperative interests held in escrow§ 5-6B-11
Consumer protection standards and enforcement§ 5-6B-12
Cooperative interests not security or investment security§ 5-6B-13
Restraints of trade§ 5-6B-14
Applicability of general corporation law§ 5-6B-15
Cooperative interest deemed personal property§ 5-6B-16
Perfection of security interests and cooperative interests§ 5-6B-17
Assignment of votes§ 5-6B-18
Meetings of cooperative housing corporation, governing body, or committee§ 5-6B-19
Distribution of written information§ 5-6B-20
Location of meetings§ 5-6B-21
No-impact home-based businesses§ 5-6B-22
Election related candidate signs or signs advertising questions or propositions§ 5-6B-23
Electronic transmission of notice§ 5-6B-24
Electronic transmission of votes or proxies§ 5-6B-25
Meetings held by electronic means§ 5-6B-25
Examination and copying of books and records of cooperative housing corporations§ 5-6B-26
Reserve study§ 5-6B-26
Fidelity insurance§ 5-6B-27
Books and records§ 5-6B-28
Late charges§ 5-6B-29
Dispute settlements§ 5-6B-30
Eviction of member§ 5-6B-31
Statewide effect of act§ 5-6B-32
Applicability of act§ 5-6B-33
 

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Homeowners' Association As Vacation Destination: Short-Term Rental Restrictions in HOAs

Even if a community has a valid reason to restrict short-term rentals, it still needs legal and/or contractual authority to support the restriction. Typically, the authority comes from an HOA's declaration, from state law, or a combination of the two. A declaration is a contract among property owners in a community. The owners jointly agree to accept certain obligations and restrictions on how properties in the community can be used. If everyone complies, the community as a whole will benefit—or at least that is the idea.

Enforcing Conformity: Home Improvement Projects And Architectural Review Boards In HOAs

The U.S. legal system generally views any land-use restrictions with suspicion. However, the law also recognizes that reasonable restrictions are sometimes justified if they benefit the community as a whole. With that in mind, courts throughout the country have consistently upheld the right of HOAs to impose architectural restrictions as long as the restriction serves a legitimate purpose, is within the association's power under state law and/or the community's declaration, and does not violate any other law or public policy.

Step-By-Step Guide To The HOA Assessment Collections Process

When you purchase a property in a community with a homeowners’ association, you’re also acquiring the obligation to pay regular assessments. Unfortunately, though, homeowners are sometimes financially unable to pay assessments. Homeowners faced with potential collections action must understand how the HOA collections process works and the legal rights and redress available for both homeowners and the association. This guide will help all community members, including the board, resolve conflict, and avoid escalation.

Preventing the Spread of COVID-19 Within HOA Communities

On March 11, 2020, the World Health Organization declared the outbreak of COVID-19 (the medical condition caused by the novel coronavirus SARS-CoV-2), a global pandemic. HOAs and condominium associations have an essential role to play in slowing the spread of COVID-19. By applying the Center for Disease Control and Prevention (“CDC”) recommendations in the planned community setting, HOA board members, owners, residents, visitors, and employees can help prevent illness in their communities and keep their loved ones, friends, and neighbors healthy and safe.

HOA Powers and Obligations In Emergency Situations

The fundamental purpose of a homeowners’ association is to benefit the community and its members. Usually, that means preserving the aesthetic beauty of the neighborhood by maintaining common areas and ensuring homeowners keep up their properties. Or, it might mean using pooled resources to make life easier for the entire community—through road and sidewalk repairs or snow removal, for instance. Most of the time, the overall goal is to increase property values and raise the living standard in the community. In an emergency, though, an HOA’s role can take on an entirely new dimension.

Weathering The Storm: Coronavirus And Its Financial Impact on Homeowners

One way or another, future historians will consider the Coronavirus Pandemic among the most noteworthy events of the early 21st Century. The full economic impact on homeowners and their families cannot yet be precisely predicted, but it is likely to be immense. Taking the necessary precautions to avoid exposure to the virus and preparing for the financial ramifications will require prudence, careful planning, and maybe even a little creative thinking. Homeowners can't completely avoid the fallout from Coronavirus, but there are a few measures that could hopefully soften the blow.