Question:
Residents of our condo community have requested an audit for several months, but neither the board of directors or our management company will reply. There has not been an audit for several years. Also, we have no insurance information or fiscal details for our community and requests have also been denied.
Any suggestions as to which state government agency should be contacted, here in Oklahoma?
– G. B.
Answer:
Hi G. B.,
If your HOA is organized as a nonprofit corporation in Oklahoma (as most HOAs are), the Oklahoma General Corporation Act applies to you. Section 1065 of this Act gives shareholders (homeowners) the right to inspect the books and financial records of the corporation (HOA). Moreover, if your governing documents state that owners can request an audit and can inspect the association’s financial records, then your HOA board cannot deny you this right. Make sure to show this statute and the applicable sections in your governing documents to your HOA board.
Unfortunately, Oklahoma does not have a dedicated government agency that oversees homeowners associations. That being said, if your board refuses to perform its duties, you might consider removing directors from the board.
Disclaimer: We are not lawyers. The information provided on this website does not constitute legal advice.
