North Carolina Homeowners' Association Handbook
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The North Carolina Planned Community Act (PCA), N.C.G.S. , Chapter 47F, governs the formation, management, powers, and operation of HOAs, is North Carolina's law specifically governing homeowners' associations in the state.
Registration with the HLURB. - Every association of homeowners shall be required to register with the HLURB. This registration shall serve to grant juridical personality to all such associations that have not previously acquired the same by operation of the General Corporation Law or by any other general law.
We were recently asked whether bylaws amendments should be filed with the local Register of Deeds. The answer, like many things community association related, depends. Condo bylaws in North Carolina are almost always filed with the Register of Deeds, but not HOA bylaws.
Both the NC Planned Community Act (NCGS § 47F-3-108(a)) and the NC Condominium Act (NCGS A§ 47C-3-108(a)) require that a meeting of the association be held at least once each year. These two statutes apply retroactively to older associations. 6.
Understand the law. Subdivisions with homeowners' associations established after Jan. 1, 1999, are governed by the North Carolina Planned Community Act found in Chapter 47F of the North Carolina General Statutes. However, no state or federal agency oversees homeowners' associations.
HOA or condo associations with annual revenues or expenditures or total accounts balances of $150,000 or more would be required to have an annual independent financial audit conducted by a Certified Public Accountant (CPA).
Association Records and Member Inspection Rights. Under the North Carolina PCA, an HOA must maintain and preserve its "financial and other records," including all board and member meetings. An association's bylaws should identify and describe the minimum records that the association must maintain.