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News & Info For Community Association Boards of Directors |
HMC Presents:
Board of Directors Educational Forum
Free food, expert speakers and a great opportunity to network!
Noon - 2:00PM
Saturday, November 6, 2010
3478 Buskirk Ave., Suite 1000, Pleasant Hill
We invite all current Directors and Officers to our Educational Forum event designed specifically for our associations' Boards of Directors.
Join us for sandwiches, snacks and refreshments along with a series of educational presentations by local HOA industry experts. Take advantage of this opportunity to meet HMC staff and network with local HOA industry service providers and fellow volunteer Directors & Officers from other local community associations, large and small. While the agenda is still being finalized, suggested topics include:
· New Directors Training & Orientation · Preventative Maintenance · Budgeting & Reserves · Collections Best Practices · Legislative Update / FAQ For additional information or to register for this free event, contact HMC President, Jason Brown, via email at jbrown@hmcpm.com, or call (925) 937-1011, ext. 111. We look forward to seeing you attend this exciting and educational event! |
Can We Deliver Annual Disclosures Electronically?
At the beginning of this year, new legislation revised the disclosure requirements included in California civil code sections 1350.7 and 1365.2.5. Following is a very brief summary of these changes.
First, the legislation added a new civil code section and disclosure form, (1363.005; Disclosure Documents Index). This document itemizes the HOA's disclosure requirements to its members with reference to the applicable civil code for each.
Next, the changes permit the HOA to deliver any of the documents specifically listed in the Disclosure Document Index, (see top of next page), to a member by alternative means, including electronic delivery methods like email, provided, however, that the member has agreed to that method of delivery beforehand via written consent.
The required consent agreement must be consistent with the manner for obtaining consent described in Corporations Code 20, which has some very specific requirements concerning the content of the consent form as well as recordkeeping practices.
Your HMC Community Manager can provide a sample two-page Consent Form prepared by one the leading local law firms specializing in HOA matters, at no cost to the association.
In addition to the newly added list of disclosures, existing law already permits electronic delivery of the following: Notice of Proposed Rule Change, Adopted Rule Change, Notice of Member "Petition" to Overturn Rule Change, Notice of Availability of year-End Financial Report. |
Another Disclosure: Disclosure Documents Index
Following is an example of the new disclosure referred to in California Civil Code section 1363.005 - the Disclosure Documents Index. 1. Assessment and Reserve Funding Disclosure Summary (form) 2. ProForma Operating Budget or Summary 3. Assessment Collection Policy 4. Notice/Assessments and Foreclosure (form) 5. Insurance Coverage Summary 6. Board Minutes Access 7. Alternative Dispute Resolution (ADR) Rights (summary) 8. Internal Dispute Resolution (IDR) Rights (summary)  9. Architectural Changes Notice 10. Secondary Address Notification Request 11. Monetary Penalties Schedule 12. Reserve Funding Plan (summary) 13. Review of Financial Statement 14. Annual Update of Reserve Study |