Question:
Does Arkansas have a statute requiring annual audits for HOA’s (condominiums) if Master Deed/Bylaws does not specify?
– Lee Ann
Answer:
Hi Lee Ann,
Arkansas law currently does not require annual audits for homeowners associations and condominiums. That said, it is a good idea to have an audit performed by a third-party professional every year even if state statutes don’t require it. Consider amending your governing documents to include such a requirement.
Disclaimer: We are not lawyers. The information provided on this website does not constitute legal advice.
