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Should we pay to incorporate our condo association?

Posted on Wed, Sep 15, 2010 @ 01:06 PM
  
  
  
  
  
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The first page of our By-Laws say the Condo Association is an unincorporated association and shall be called... Someone mentioned that we should get our condo association incorporated, which can be done through the Ohio Secretary of State's website and you pay for yearly or so status for this. We are a 40-unit ranch condo street run by unit owners. Should we do this?

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Comments

Absolutely! If your HOA is unincorporated, the officers and directors may face personal liability for injuries suffered by guests, failure to pay bills, etc. I doubt that you can purchase Directors and Officers liability insurance ("D&O coverage") without being incorporated.
Posted @ Wednesday, September 15, 2010 1:22 PM by Larry Davis
Our association is 52 units and we were able to purchase D&O coverage and bonds with out being INC we since have been incorporated.
Posted @ Wednesday, September 15, 2010 3:35 PM by amanda
When we get no services,and the house is not in good oder beacause of poor management do we have to pay the dues .Ps reply. thank you
Posted @ Friday, September 17, 2010 2:36 PM by mary
Been there done that and we got sued for non payment and we had to pay all attorneys fees. The answer is not just to stop paying dues. If you try to work your issues with the BOD and the management company and get no where then its time to hire a attorney to make them comply and with hold up their end of the contract.
Posted @ Saturday, September 18, 2010 12:47 PM by pie
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