248 unit condo that's not Incorporated

Started by MikeS1 • 6 replies • 1425 views

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MikeS1
Posts: 521

Posted:

No Articles of Incorporation. Has anyone ever heard of an Condo Assoc that is NOT incorported? When I was looking at the HOA docs, I noticed there were no Articles of Incorporation and just could not believe it. Apparently, it's been this way since 1989 and there are 250 units? Is this totally out of the ordinary?
Has anyone seen another Condo Association setup without Articles?

GlenL (Ohio)
Posts: 5,491

Posted:

Has anyone seen another Condo Association setup without Articles?

No I haven't. How do they sign contracts, have a bank account, pay taxes, etc?

Are you sure there aren't AIC somewhere? Check with your County Recorders Office or Secretary of State's Office.

Studies show that 5 out of 4 people have problems with fractions

TimB4 (Tennessee)
Posts: 21,047

Posted:

Mike,

Was formed under the horizontal property act? I ask because VA condominium act superseded the horizontal property act.

Either way, I see no requirement that the association be incorporated. However, I've never heard of a condo association that isn't.

EM2 (California)
Posts: 28

Posted:

Yes, ours was never incrporated, we are in California. Its not smart, but its possible.

MikeS1
Posts: 521

Posted:

Glen - You hit it on the head. They are trying to setup another new bank account and the banks will not do it with the Articles of Incorporation. The state Corporation commission shows nothing on file. It's been like that since 1989. The President of the COA signs contracts. Doesn't this affect liability exposure with respect to the unit owners in that it does not mitigate their exposure?

MikeS1
Posts: 521

Posted:

Tim - I'm not really sure how to answer your question. It was formed in 1989 I believe.

JohnB26 (South Carolina)
Posts: 1,569

Posted:

Quote:

Posted By MikeS1 on 01/24/2012 6:24 AM
Glen - You hit it on the head. They are trying to setup another new bank account and the banks will not do it with the Articles of Incorporation. The state Corporation commission shows nothing on file. It's been like that since 1989. The President of the COA signs contracts. Doesn't this affect liability exposure with respect to the unit owners in that it does not mitigate their exposure?

correct - w/o 'INC' each owner is PERSONALLY responsible

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