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MarloM
(Texas)
Posts:17
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| 07/27/2006 8:03 AM |
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State statute has some parameters for HOAs if they are unincorporated but none that I can find if they are incorporated. What is the difference? This is the wording found in the CCRs.
Declarant intends to organize an entity to be known as XX Owners Association, L.L.C., an Idaho Limited Liability Company, the “Association,” and shall file Articles of Organization and adopt an Operating Agreement, which Operating agreement shall be incorporated into and made a part of this declaration by reference... The Association shall have all the powers of a limited liability company organized under the laws of the State of Idaho, subject only to such limitations upon the exercise of such powers as are expressly set forth in the Articles of Organization, the Operating Agreement, and this Declaration. The Association, but not its Manager, is intended to be a non-profit entity.
There are no Articles of Organization or Operating Agreement to my knowledge. |
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RogerB
(Colorado)
Posts:3725
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| 07/27/2006 8:21 AM |
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Marlo, your statement "State statute has some parameters for HOAs if they are unincorporated but none that I can find if they are incorporated." is exactly opposite to my experience. Could you give examples of Idaho statutes which support your belief?
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Roger Borcherding
Official HOATalk.com Sponsor
DARCO Property Management (Colorado)
(303) 925-0150 
*See legal notice below (end of page) or go to www.hoatalk.com/legal |
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MarloM
(Texas)
Posts:17
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| 07/27/2006 8:23 AM |
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Title 45
(7) In order to file a lien as provided in this section, a homeowner's
association that is an unincorporated association must be governed by bylaws
which provide for at least the following:
(a) A requirement that the homeowner's association hold at least one (1)
meeting each calendar year;
(b) A requirement that notice of any meeting of the homeowner's
association be published and distributed to all members of the homeowner's
association;
(c) A requirement that the minutes of all homeowner's association
meetings be recorded;
(d) A method of adopting and amending fees; and
(e) A provision providing that no fees or assessments of the homeowner's
association may be increased unless a majority of all members of the
homeowner's association vote in favor of such increase.
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MarloM
(Texas)
Posts:17
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| 07/27/2006 10:36 AM |
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Roger,
Can you refer me to any other statutes which may apply to an HOA? Title 45 is the only reference I could find for single family dwelling HOAs. There are two links which I found; http://www3.state.id.us/idstat/TOC/55015KTOC.html and http://www3.state.id.us/idstat/TOC/55025KTOC.html. I do not think that these apply for a single family dwelling subdivsion. |
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RogerB
(Colorado)
Posts:3725
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| 07/27/2006 10:41 AM |
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| Marlo, thanks for this information. I find it interesting that these restrictions are tied to filing a lien. I think item (e) is very restrictive. It appears that Idaho wants associations to incorporate. But for incorporated associations doesn't Idaho also require items (a) through (d) plus others? Things like powers and duties on the Board of Directors, members access to records, sign-in registry at annual meeting, timeframe for advance notice of meetings, etc. |
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Roger Borcherding
Official HOATalk.com Sponsor
DARCO Property Management (Colorado)
(303) 925-0150
*See legal notice below (end of page) or go to www.hoatalk.com/legal |
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RogerB
(Colorado)
Posts:3725
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| 07/27/2006 11:52 AM |
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Marlo, I did a google.com search and came up with this link: http://www3.state.id.us/idstat/TOC/30003KTOC.html titled Idaho Statutes - TITLE 30 CORPORATIONS - CHAPTER 3 IDAHO NONPROFIT CORPORATION ACT. This may have some info of use to you.
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Roger Borcherding
Official HOATalk.com Sponsor
DARCO Property Management (Colorado)
(303) 925-0150
*See legal notice below (end of page) or go to www.hoatalk.com/legal |
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MarloM
(Texas)
Posts:17
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| 07/27/2006 10:48 PM |
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Roger thank you for the links.
I am pretty confused now. After reading this title 30 it seems as though 4 and 45 are contradictory in regards to for profit or nonprofit. A "corporation" has to be for profit but an "unincorporated entity" cannot be nonprofit?
Title 30
(4) "Corporation," "domestic corporation" or "domestic business
corporation" means a corporation for profit, which is not a foreign
corporation, incorporated under or subject to the provisions of this chapter.
(45) "Unincorporated entity" means an organization or artificial legal person that either has a separate legal existence or has the power to acquire an estate in real property in its own name and that is not any of the following: a domestic or foreign business or nonprofit corporation, an estate, a trust, a state, the United States, or a foreign government. The term includes, without limitation, a general partnership, limited liability company, limited partnership, business trust, joint stock association and incorporated nonprofit association.
My HOA is registered with the Secretary of State as an LLC. I can't find any reference to nonprofit LLCs.
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