North Carolina Rules and Regulations for a Condominium Association

State:
Multi-State
Control #:
US-1133BG
Format:
Word; 
Rich Text
Instant download

Description

Rules and regulations are important tools for protecting condominium, townhouse or homeowner's associations. If properly enacted and enforced, they will enhance property values and create a pleasant living environment in the association. If rules and regulations are not adopted and enforced properly, they can create bitter divisions within the association and cost the association money in legal fees. If there is a standard that governs adoption and enforcement of rules and regulations, it is that rules and regulations, and their enforcement, must be fair, reasonable, and equitable. Any deviation from this standard will create legal problems. It must be remembered that when enforcing rules the Association bears the burden of establishing their reasonableness. This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
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  • Preview Rules and Regulations for a Condominium Association
  • Preview Rules and Regulations for a Condominium Association
  • Preview Rules and Regulations for a Condominium Association
  • Preview Rules and Regulations for a Condominium Association
  • Preview Rules and Regulations for a Condominium Association
  • Preview Rules and Regulations for a Condominium Association
  • Preview Rules and Regulations for a Condominium Association

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FAQ

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.

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).

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.

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.

Call (919) 431-3030 or toll-free at (866) 324-7474 to file a complaint.

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.

For example, in North Carolina, an HOA dissolution requires 80% of the membership as set by the state's General Assembly if the association was formed after 1999, but if it was chartered before that year, only 67% of homeowners are required to pass the termination vote.

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North Carolina Rules and Regulations for a Condominium Association