Author Question: Ralph Regier, a homeowner in the Shady Rest subdivision, has not paid his association fees in six ... (Read 136 times)

awywial · **on:** Jun 24, 2018

Ralph Regier, a homeowner in the Shady Rest subdivision, has not paid his association fees in six months. The board of directors has revoked his power to vote for the board members at the upcoming annual election. Discuss this enforcement tool and any others the association might have.

Question 2

If a shareholder borrows money and delivers stock as collateral security, the creditor has a perfected security interest in the stock without any filing by the creditor.
Indicate whether the statement is true or false

rnehls · **Reply #1 on:** Jun 24, 2018

Answer to Question 1

The association can revoke the power to vote, or it may simply be a requirement for voting that all fees be current. Such a power is fairly universal. The homeowners association may also have the power to bring suit to collect back fees. The power to foreclose for non-payment of fees is generally very limited. What the HOA can do is a matter of what is spelled out in the articles and CC&Rs.

Answer to Question 2

TRUE