We are halfway through 2024, and confusion regarding the Corporate Transparency Act (CTA) still abounds. This new law requires corporations (including community associations) to file a report identifying all “beneficial owners,” defined as individuals who own or exercise “substantial control” over a corporation. There are five specific pieces of personal identifying information that must be […]
Part 3 of 3: California HOA Insurance Issues Insurance carriers throughout California are non-renewing homeowner association insurance policies. As a result, premiums and deductibles for available policies are increasing exponentially and the level of coverage offered is decreasing. In the final part of a three-part monthly series, we discuss how we got here and what […]
Part 2 of 3: California HOA Insurance Issues Insurance carriers throughout California are non-renewing homeowner association insurance policies. As a result, premiums and deductibles for available policies are increasing exponentially and the level of coverage offered is decreasing. In part two of a three-part monthly series, we discuss what to do when insurance policies are […]
“Reserve Study.” The term is common HOA lexicon that just about everyone in our industry has heard. Managers know their associations need them. Board members know that they need them. But what are Reserve Studies, really, and why are they getting so much attention now? Well, it all comes down to – what else − […]
Community association pools are considered “public pools” for purposes of the California Building Code’s pool signage requirements. “No Lifeguard,” capacity, and “No Diving” signs are among those required to be posted. Pool rules, while not required, are strongly recommended. Adopting rules provides associations with a way to promote safety and proper conduct around the pool […]
Pool Signage Requirements in Community Associations It’s time to dive into pool signage! California considers community association pools to be “public pools” for the purpose of the California Building Code’s (“CBC”) pool signage requirements. As your community prepares for pool season, take a moment ensure your pool signs are up to date with current […]
Have you had trouble reaching quorum for your election of directors? Has your association been in the tough position of trying to elect a board, but the number of ballots returned by the election date does not meet the minimum quorum requirements set forth in the governing documents? If you answered “yes” to both these […]
As community association lawyers, one of the things we are asked to do most often is analyze CC&Rs to determine whether the association or the owners are responsible for a certain component (“who is responsible for what” letters). It is not unusual for CC&Rs, especially those that are original to a condominium development, to be […]
Part 1 of 3: California HOA Insurance Issues Insurance carriers throughout California are non-renewing homeowner association insurance policies. As a result, premiums and deductibles for available policies are increasing exponentially and the level of coverage offered is decreasing. In part one of a three-part monthly series, we discuss what to do when insurance policies are […]
As we previously reported, effective January 1, 2024, corporations are required to file reports identifying all “beneficial owners,” defined as “individuals who directly or indirectly own or control” a corporation. Corporations in business before January 1, 2024, have until January 1, 2025, to file their initial Beneficial Ownership Information (BOI) report. Penalties for non-reporting range […]