Question:
Does the board have the authority to approve assessments for a reserve study without membership approval?
Our bylaws state that special assessments require a majority vote of the membership. Would a reserve study assessment fall into our category of special assessments?
Thank you.
– Linda
Answer:
Hi Linda,
According to The Oregon Planned Community Act Section 94.595(3)(a), associations must determine the reserve account’s requirements annually, either through a reserve study or an update to an existing study. Hence, the special assessment may be a necessary expense.
Kindly also review the governing documents in detail. There may be provisions allowing the HOA to levy assessments to conduct reserve studies without a membership vote. It may also contain requirements regarding conducting reserve studies. Moreover, they may define what special assessments are more clearly and whether or not funding for reserve studies is included. Nonetheless, you may raise this issue with the HOA board and speak with them to iron out the details. For further guidance, kindly consult a lawyer.
Disclaimer: We are not lawyers. The information provided on this website does not constitute legal advice.
