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Condominium Audits

Wednesday, February, 7th, 2024 at 3:58 am by John A. Morris, Esq.

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...]

Second Take on the Corporate Transparency Act

Monday, January, 29th, 2024 at 6:46 pm by Richard S. Ekimoto, Esq.

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...]

Community Associations and the Corporate Transparency Act

Friday, January, 19th, 2024 at 1:03 am by Richard S. Ekimoto, Esq.

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...]

2023 Community Association Law Seminar Law Practice Management Program

Tuesday, November, 29th, 2022 at 4:25 pm by Richard S. Ekimoto, Esq.

I am honored to be presenting at the 2023 Community Association Law Seminar in New Orleans. This is the premier conference for community association attorneys, and insurance and risk management professionals. I invite you to register for the Law Practice Management Program, a pre-Law Seminar workshop on Jan. 11. If your firm is navigating attorney and staff recruitment and retention, technology challenges, or seeking new strategies to manage client harassment, me and my fellow attorneys will help you discover [Read More...]

What are community associations?

Wednesday, November, 16th, 2022 at 8:35 pm by Richard S. Ekimoto, Esq.

Community Associations refers to the organizations that manage and operate common property for the owners of a condominium, planned community and residential cooperative. In Hawaii, condominiums are governed by Hawaii Revised Statutes Chapter 514B. Condominiums are the most common for of community association in Hawaii. In a condominium, all the members own the common areas jointly while each member owns their own apartment. Planned Communities are governed by Hawaii Revised Statutes Chapter 421J. In Planned Communities, the [Read More...]