While it takes a judge to invalidate an election, generally owners may recall a board. Recently, we attended an annual meeting with a very close election. Nine candidates were nominated to fill four positions. While all the proper election procedures were followed, several of the candidates were unaware of...
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Associations Benefit from Bailouts
As many of Ohio’s condominium and homeowner associations face many financial challenges, there has been one indirect source of relief: federal bailouts. The positive effect this generates has been noticed by many local communities, and now the press. The following is an excerpt of an article published in the Columbus Daily...
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Every Board Needs Officers!
Kaman & Cusimano, LLC was recently hired by a condominium association in Delaware, Ohio. The association owners had validly elected its five (5) member Board of Directors. However, each Director was currently serving in an “at-large” capacity, meaning the Board had no elected officers. Ohio Revised Code Section 5311.08...
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Amendments MUST be Recorded to be Valid
Our Firm was recently hired by an association in Westerville, and another inDayton, Ohio. Both associations were under the impression that they had enacted valid and legally binding amendments to their Declarations. TheWesterville association thought they enacted a “no-leasing” amendment. TheDayton association was under the impression that they had properly reduced their quorum...
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$250,000 FDIC Insurance Limit Extended
As discussed in our recent seminar entitled “The Financial Crisis – What Every Board Member Needs to Know,” the FDIC Insurance limit on bank accounts was increased from $100,000 to $250,000. This increased limit was set to expire on December 31, 2009. However, the FDIC recently extended the higher...