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| IHG Insurance (National Insurance Provider) |
| 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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JeffH1
(Georgia)
Posts:12
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| 10/22/2006 7:13 PM |
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Does anyone have a checklist for transition from one Management Company to the next with an associated timeline?
Thanks
Jeff |
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ShalimarR
(California)
Posts:1
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| 10/23/2006 1:26 PM |
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this is taken from the Davis-stirling.com, a really great site..
Whenever the services of a management company have been terminated, boards should make a written demand that all association property and records be transferred to the new company. This includes, but is not limited to, the following:
Governing Documents
1. Articles of Incorporation
2. Bylaws
3. CC&Rs
4. Condominium Plan
5. Rules & Regulations
Membership List
Current names, addresses, phone numbers
Minutes
1. Board meetings
2. Committee meetings
3. Membership meetings
Financial Records
1. Budget
2. Reserve studies
3. General ledger
4. Bank statements & check register
5. Bank signature cards
6. Delinquency list and liens
7. Paid invoices and accounts payable
8. Monthly financial statements
9. Year-end financial statement (audit)
10. Tax returns
Personnel Records
1. Employment contracts
2. Payroll documents
Insurance Files
1. All policies, past and present
2. Any open claims
Vendor Records
1. List of all vendors, addresses, & phone numbers
2. All contracts, past and present
3. All warranties
Architectural Records
1. Building plans
2. Landscaping plans
3. 0wner architectural records
Litigation Files
1. Legal correspondence
2. Litigation records, past and present
Website
1. Domain name
2. pdf files
3. Html and asp pages
Keys
1. Common areas
2. Vehicles
3. Bulletin boards
Miscellaneous
1. Operations manuals
2. All records and property of any kind belonging to the association
hope this helps
Shalimar Roper |
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JosephW
(Michigan)
Posts:788
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| 10/24/2006 6:51 PM |
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Extremely important to make sure that the change of registered agent takes place. The new company should do this as a matter of course (changing the corporate agent with the state), but demand a copy. I've literally seen hundreds of associations lose their corporate standing and protections because the old managerment company was listed a the registered agent, and just trashed the renewal paperwork from the state.
Joe |
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