PeteB (Tennessee)
Posts: 3
Posts: 3
Posted:
Please advise
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Incorporating an HOA: Pro's & Con's
Started by PeteB • 2 replies • 2105 views
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LuciusD
Posts: 139
Posts: 139
Posted:
Consult your attorney. The reason to do it are many.
RogerB (Colorado)
Posts: 5,067
Posts: 5,067
Posted:
Pete, most HOA's incorporate to provide non-profit status and a corporate shield to protect the Board members. The negative I see is cost. Need to file articles of incorporation and pay fees. There is also a yearly filing fee and filing with fee required whenever the Registered Agent and/or address is changed.
Compliance with corporation laws in the state I see as positive but some may view this as negative (red tape).
Compliance with corporation laws in the state I see as positive but some may view this as negative (red tape).
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