[WSBARP] CIC Act

[Josh Grant]

I am replying to an old (and very helpful) email.
My clients are wondering “who is going to enforce this”?  Is it just banks who may balk at lending if a reserve study and minutes are not up to date?
Second, I have one HOA with 9 houses, but they have a few miles of paved roads that they maintain. They also maintain two entrances. Is that a “substantial development” that would make them have to comply before they get their 10 house (which could happen before their next annual meeting)?

Thanks
Josh

Joshua F. Grant

P. O. Box 619
Wilbur, WA 99185
509 647 5578

From: Rob Wilson-Hoss 
Sent: Thursday, October 17, 2019 1:51 PM
To: 'WSBA Real Property Listserv' 
Subject: [WSBARP] (no subject)

For our HOA wonks, here is a summary of what the new CIC Act does to budget requirements for pre-existing HOAs. I would love it if anyone could improve on this. 

 

Rob

 

Robert D. Wilson-Hoss 
Hoss & Wilson-Hoss, LLP 
236 West Birch Street 
Shelton, WA 98584 
360 426-2999

www.hossandwilson-hoss.com
rob at hctc.com

 

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