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By CondoAssociation.com • February 17, 2019

What's the process to change Fiscal Year?

Process on changing Fiscal year?
This is the exact wording in the CC&R's

FISCAL YEAR
The fiscal year of the association shall on the thirty-first day of December in each year, or on such other day as may be fixed from time to time by the Board of Managers.

How is this enacted?
Board meeting with a vote? Send out Amendment to all members to add to their CC&R's? How often can they change this and is this too vague which should be re-written? Does the board need a good reason to do this? What kind of problems can this cause?

Ohio

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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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