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Can board member provide our HOA with a loan?

CondoAssociation.com on Wed, May 5, 2010 @ 06:33 AM


hoa loansMy HOA in California is carrying out some upgrades to our utility infrastructure that we expect will pay for themselves within a short time - 5 years or so. We'd like teh HOA to take out a loan to carry out the work. An officer of the HOA has offered to make the loan to the HOA on terms that are better than we've been able to find on the commercial market. Is this kind of transaction allowed?

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