[WSBARP] Unincorporated Slew of People - HOA?

[Paul Neumiller]

A developer client has put together a small subdivision with a Road Maintenance Agreement for the private roads and a Water Sharing Agreement for the private water system.  NO HOA.  OK, here’s where the rubber hits the road.  He wants to set up a banking account to put a reserve fund for the water system BUT the bank will not allow him to open a banking account WITHOUT an EIN and he says he can’ get an EIN without having a legal entity.  Any work arounds for a small group of fewer than 20 homes in a rural setting who do not want the formality of incorporating a WA not-for-profit?  Thanks for your ideas.

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