Corporation Disolved Failure to File Annual Report

Hi there,

thanks for taking the time to view this post, I would appreciate any feedback or thoughts.

If our association (Florida Not For Profit) were to fail to file annual reports and fees and were to be dissolved by the state, what who would own the dirt roads that the corporation currently owns?

Thanks for the response Mary,I did not expect such a prompt response, let me enlarge a little on this. Our HOA is small with only 15 or so paying members. For whatever reasons, our association was deeded certain dirt roads that all of our members must use to access their respective properties, however, there are a number of homes along the fist 3/10th of a mile that are not in our association. To complicate it further we have a number of roads that are not contiguous to our association boundaries, nor are any of the homes on those roads part of our association. Each home owner, member of our association or not, has the normal right of ingress and egress to their respective properties. Our association, by way of volunteering members,has maintained the road that we need to drive to our properties, however, the association has never instigated any liability insurance on the roads, or BOD coverage. The county will not take possession of the roads unless we first bring them to county standards which would cost well in excess of $150,000 which is not going to happen. I am wondering if the corporation was dissolved by the state for failure to file annual papers, who would be liable should an accident occur along one of these roads?

Check with an attorney but I think you will find that each and everyone of the owners obligated by their deeds would be liable; the phrase is jointly and severally.

Alan,

I believe Glen is right in saying each property owner would be liable. The BOD should take immediate action to secure liability ins. and also take steps to have the assn's dissolution corrected, if in fact an administrative dissolution has occurred.

Alan,

FYI, from the FL State Dept of Corporations:

17. What does administratively dissolved, administratively revoked, involuntarily dissolved, and revoked for annual report mean?

Under current law, a Florida entity which fails to file its annual report form as required is administratively dissolved by our office. If the entity is a foreign (or out-of-state) entity, its certificate of authority to transact business in Florida is administratively revoked. Under previous law, entities which failed to file their annual reports were involuntarily dissolved or revoked for annual report. So, these terms have the same meaning. The entities are no longer active on our records. These business entities may reinstate by filing a reinstatement application and paying the applicable fees. When the reinstatement is effective, it relates back to and takes effect as of the effective date of the dissolution or revocation.