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| Friday, November 21, 2008
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| Providing Community Association Insurance for over 25 years: D&O Liability, Crime Products, Umbrella Coverage and Property Manager's Errors & Omissions Liability. |
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| Author |
Messages |
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VictorN
(California)
Posts:4
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| 06/13/2006 9:45 AM |
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| Hi every body, I would like to set up a non-profit company for HOA. I realy need help for all legal paper and the procedure setting up the company. I need your help,thank you very much. |
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RogerB
(Colorado)
Posts:3694
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| 06/13/2006 10:42 AM |
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| Victor, hire an attorney unless you are thoroughly experienced in doing this yourself. |
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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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VictorN
(California)
Posts:4
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| 06/14/2006 9:45 AM |
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Thank you for your reply. I try to avoid the cost because I want to lower the HOA fee. I had filled the company name, Tax ID, Bank Account. Now I would like to set up the collecting account for new owner, but I don't know how, can you help me out. Thank you.
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RogerB
(Colorado)
Posts:3694
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| 06/14/2006 11:21 AM |
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| Victor, all of the things you have done are easily done without the help of an attorney. However, the articles of incorporation are a significant legal document. As to setting up and collecting assessments from a new owner this is easy. Add them into your accounting scheme and bill them. Include, the controlling documents which provide the authorization for the assessment and your Board approved Rules and Regulations on Collecting Assessments. |
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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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SwanB
(Washington)
Posts:194
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| 06/15/2006 6:09 AM |
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I have created the nonprofit status for numerous community organizations and it is a very time consuming project. There is a good amount of research to be done to do this correctly in your particular state. You need to know if you want to do this on a state level and/or a Federal level. You will need professional advice in drafting the Articles of Incorporation for the status. The Bylaws are another legal document and, while I have written five or six different sets of Bylaws for the same number of community organizations or businesses filing for nonprofit status; this is a huge task to take on for the inexperienced.
My first time took me almost a year and my hand was being held by someone who had done this before. |
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VictorN
(California)
Posts:4
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| 06/15/2006 10:39 AM |
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| Thank you Roger, and Swan for your answer. Is there any webside or document that I can do research on the legal information to set up the HOA and run it without breaking the law. |
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SwanB
(Washington)
Posts:194
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| 06/15/2006 10:45 AM |
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| VictorN: The first time I helped an organization file for nonprofit status the internet was still not available to the public. I went to the library and did my research there. You can find numerous books on the subject. I know there are great websites that you can find through the mega search engines but be careful because you will also hit businesses offering to do you the service for a price. |
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VictorN
(California)
Posts:4
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| 06/15/2006 10:59 AM |
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| Thank you Swan,As today, I still worry about the legal document such if I meet the requirement from the state and federal yet. I have CC&R ready,but I don't know the system that make it work. |
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| You are not authorized to post a reply. |
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