Condo Q&A

Any limits on how a special assessment can be spent?

Written by CondoAssociation.com | Wed, Oct 13, 2021 @ 05:26 PM

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.