Imagineers Spring 2012 Newsletter

The Advantages of Adopting a Records and Inspection Policy After the Recent CIOA Amendments

The recent amendments to the Common Interest Ownership Act (COIA) gave unit owners broad rights to inspect association records. Section 47-260 describes the records the association must keep in detail and identifies certain classes of records that the association may withhold from inspection. Even though this type of request does not occur too often it still warrants a thoughtful consideration. The reason why it makes sense to adopt a formal "Records and Inspection Policy" of association records includes the following:

1. Clarity with Requesting Procedures - Commonly when unit owners are requesting association records it can sometimes be less than harmonious in nature. Having an established policy and procedures is likely to help avoid conflict regarding any future request and is certain to help create greater order and better communication on adopted procedures.

2. Clarity with the Fees Charged - The recent amendment to Section 47-260 allows an association to charge a reasonable fee for providing copies of any records and for supervising a unit owner's inspection of the records. Without an adopted policy already in place it would be harder to implement a fee schedule in mid-stream. A requesting unit owner is likely to have a greater appreciation for the demands they may place to inspect association records, when they understand the fees charged for the reasonable time and material it takes to respond to their request.

3. Clarity On What is Subject to Inspection and What May be Withheld - Within the CIOA amendments the governing board should have the opportunity to thoughtfully examine the policy that governs what a requesting unit owner may have the right to view and what may be withhold. With the absence of a governing policy this type of thoughtful consideration my not necessarily occur.

We have provided a model sample policy for your consideration (Click here)

Thank you for reading the Imagineers Board Newsletter. If you have any question or need any additional information on any articles provided in this newsletter, please contact us at 1-800-560-7268.

Imagineers LLC
Phone: 1-800-560-7268
Fax: 860-236-3951