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HOA Software
By CondoAssociation.com • October 13, 2021

Any limits on how a special assessment can be spent?

Question pertains to Illinois Condo NW Suburbs
Property: 7 Buildings each have their own HOA for a total of 7 HOA's with 1 Master Board Association.
If an HOA for one of the buildings collects a special assessment for steel and concrete work for their own building. Are they allowed to forward the moneys collected to be used for outstanding bills owed by the Master.

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Please note that blog comments and postings are not legal advice, rather only the opinions of our readers.
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