Category: Community Association Management

Categories: Board Duties, Community Association Management, Federal Law & Regulations

By Richard S. Ekimoto, Esq. A couple of days ago, on April 18, 2024, FinCen updated its FAQ to add two provisions about community associations. It states: C.10. Are homeowners associations reporting companies?It depends. Homeowners associations (HOAs) can take different corporate forms.As with any entity, if an HOA was not created by the filing of a document with asecretary of state or similar office, then it is not a domestic reporting company. Anincorporated HOA or [Read More...]

Categories: Communications, Community Association Management, Financial & Reserves, General, Hawaii Community Association Statutes, Meetings Tags: Certified Public Accountants, Condominium audits, CPA

By John A. Morris, Esq. Under Hawaii Revised Statutes Section 514B-150, all condominium associations with 20 or more units must annually have an audit and an unannounced cash balance verification.  Condominium associations with fewer than 20 units may waive those requirements by a majority vote at a meeting.  Subject to certain exceptions, an association must make a copy of the audit available to all owners and must provide a copy to those owners who request [Read More...]

Categories: Board Duties, Community Association Management, Federal Law & Regulations Tags: Beneficial Owner Information, Corporate Transparency Act, CTA

By Richard S. Ekimoto, Esq. Last week, I posted information about the Corporate Transparency Act. The Corporate Transparency Act (“CTA”) is a federal law adopted in 2021 which requires Reporting Companies to file information with FinCen about its Beneficial Owners. In my post, I stated that most of the exemptions for Reporting Companies would probably not apply to community associations. I wanted to provide you with a second take from a good friend of mine, [Read More...]

Categories: Board Duties, Community Association Management, Federal Law & Regulations Tags: Beneficial Owner Information, Corporate Transparency Act, CTA

By Richard S. Ekimoto, Esq. Background about the CTA The Corporate Transparency Act (“CTA”) is a federal law that adopted in 2021. The Financial Crimes Enforcement Network (“FinCen”) in the U.S. Department of the Treasury promulgated regulations implementing the Beneficial Ownership Information (“BOI”) Reporting requirements for all covered entities. The regulations are codified as 31 CFR 1010.380 (“BOI Reporting Regulation”). The CTA and the BOI Reporting Regulation were adopted because: Illicit actors frequently use corporate [Read More...]

Categories: Community Association Management, Fair Housing & ADA, Seminars

For those of you attending the 2017 CAI National Conference in Las Vegas this week, please be sure to attend the session “A Service Dog by Any Other Name” on Friday, May 5, 2017 from 9:30-10:20 a.m.  The session is sure to be interesting.  Custom K9 Services will be on hand to provide a demonstration involving an assistance animal.  Custom K9 Services supplies dogs to military and police departments across the U.S. and Canada, and has [Read More...]