By now, your association should have a new collection policy in place that complies with the new HOA collection law that went into effect on January 1, 2014. When adopting a new policy, the association should not only ensure its compliance with the new law, it should also make sure it is consistent with its other governing documents. As I discussed in a previous blog, it is important that the association’s governing documents are consistent with one another and most importantly, with the Declaration. While the policy can add or elaborate specifics about the collection procedures, it cannot contradict the terms of the Declaration or the new law. Should you have any questions regarding your collection policy, please feel free to contact us.
