Q: I am on my HOA’s board of directors. From time to time HOA members request HOA information, and I know under N.C. laws that nonprofit corporations must maintain certain records and make them available for inspection by HOA members. Do executed contracts between the HOA and vendors fall under this right to inspection? I am all for openness and transparency in HOA affairs, but I also have a duty to properly manage the affairs of the HOA. I want to be sure before allowing a member to inspect a contract.
Five Signs of Fraud or Financial Sloppiness for HOAs – Know the Signs of Financial Shenanigans
Typically before HOAs learn of fraud or financial ineptitude on the part of their treasurer or manager, there are small signs that should have been red flags. Here we provide five signs that your HOA funds may be in jeopardy.