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Condo talkQuestionable activity plagues condo ownersBy Kay SenayJune 2009Our condominium is plagued by the questionable activity of a corrupt board, attorney and management company. When I was on the board, we found several members stealing funds. The attorney wrote violation letters to those who questioned the board. The property manager writes the checks and monitors the bank accounts for the condominium. So the current board, the attorney, and the management company are in cahoots. We paid $52,000 for road repairs two years ago that were never done, and we cannot find out where our money went. Two of us got on the board in March, but the old board members said there was a problem in the voting and did a recount off site. The condominium attorney backed it. How do we remove the board? — S.K., Florida Dear S.K.: This is a horrible situation. It is the fiduciary duty of every board to ensure the safety of association funds. Unfortunately, condominiums all over the United States are plagued with questionable activity. In Ohio last year, a management company closed its doors, absconding with all the funds for 50 condominium associations. The company was found guilty and awaits sentencing. If the attorneys and/or management companies for these associations were involved in any corruption, this criminal activity may have been without remedy. You must follow the procedure in your bylaws to remove a board member, or the entire board. In addition, there are some actions you can take to avoid or resolve the questionable activity. Annual or special meeting Financial committee Examine records/review meeting minutes Hire a CPA and/or an attorney When new board members are elected, they can replace the attorney and the management company! Kay Senay is the author of “Condo Buying & Ownership Made Simple: Tips to Save Time & Money.” Visit her website at www.condo-condominium.com for a free tip sheet. Send your questions and stories to Kay at condotalk07@yahoo.com. Copyright © Kay Senay 2008 |











