Do members of a home owners association have a right to a complete monthly financial report?
by 
Anonymous
ANSWERS: 5
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That depends upon the bylaws of the association.
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Its probably covered in your contract agreement. read the fine print.
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If you read carefully, they may well own the rights to your DNA and all derivatives thereof; your children now belong to them! The real question you should be asking is, "Is being a member of this HOA worth selling my soul?". EDIT 18 Mar 07 Metritype - I understood the question perfectly fine. Let me rephrase my answer in a manner that those of you with no sense of humour can understand. HOAs can be notoriously close-lipped and controlling. Any question that begins with the phrase, "Do members of an HOA have a right..." invariably means that you have to read the fine print in your contract. It is entirely possible that the member does NOT have ANY rights whatsoever. If the HOA agreement is worded anything like the original Patriot act, the HOA may well have the right to enter your home at any time, take your children and sell them into the sex trade. Re-read Section 317, section Q, subsection 42, paragraph 9. Granted, you may have legitimate grounds to fight them in court, but if you signed the contract that specifically granted them a right or agreeing to waive your rights, then you're in for a battle.
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The members of an HOA are generally allowed to see any records of the association except those that pertain to a specific member. If your board is doing the job they should be doing, they should have a copies of the current financial statements available to homeowners who attend the scheduled board meetings.
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Since you are an equal member of the HOA you should have the right to know how your money is being allocated and spent. There should be no secrets regarding financials or any other matters. My bylaws state that every member should be notified of any member not paying dues. Your HOA should be set up a a non-profit business and as a business owner (HOA member) you are entitled to a full accounting at anytime requested.
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