Category: Federal Law & Regulations

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: 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: Enforcement, Fair Housing & ADA, Federal Law & Regulations, Glossary

What is Familial Status Discrimination? The Federal Fair Housing Act introduced “familial status discrimination” in 1988. Lawmakers chose to use the term “familial status discrimination” rather than the more easily understood term “discrimination against families with minor children”. Under the Federal Fair Housing Act, it is illegal to discriminate against families with minor children in housing.

Categories: Enforcement, Fair Housing & ADA, Federal Law & Regulations, Glossary

The Federal Fair Housing Act and the Americans with Disabilities Act provides protections for people with disabilities. The Fair Housing Act uses the term, “handicap” while the Americans with Disabilities Act uses the term, “disability” but they are defined the same. A person with a disability is someone who: (1) has a physical or mental impairment which substantially limits one or more major life activities (i.e., caring for one’s self, performing manual tasks, walking, seeing, breathing, etc.); (2) has [Read More...]