Question:
I am on the board of a condo in suburban NYC area.
As of late 2015, HOA was sued by an owner for a sewage backup into her unit (though all damage was repaired to common elements and to HOA-owned structural elements).
It has been passed along to our insurance company, but the suit has not yet been registered with local courts.
Must we disclose this suit in our annual audit and/or meeting minutes?
If yes, must we name the owner, use a unit number, or just note that a suit is in process by an owner, being handled by insurance co/attorney? Thank you in advance.
Answers (4)
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