311fan Posted December 28, 2011 at 11:44 PM Report Share Posted December 28, 2011 at 11:44 PM Can our Board of Directors impose a special assessment to the unit owners because they did not appropriately budget a dramatic increase in insurance costs? Link to comment Share on other sites More sharing options...
Josh Martin Posted December 28, 2011 at 11:55 PM Report Share Posted December 28, 2011 at 11:55 PM Can our Board of Directors impose a special assessment to the unit owners because they did not appropriately budget a dramatic increase in insurance costs?No, unless your Bylaws (or applicable law) authorize the board to do so. Link to comment Share on other sites More sharing options...
Rev Ed Posted December 29, 2011 at 07:00 PM Report Share Posted December 29, 2011 at 07:00 PM I would be shocked to hear that a condominium/HOA Board would be unable to impose a special assessment, at least not according to my personal experience. Link to comment Share on other sites More sharing options...
Josh Martin Posted December 30, 2011 at 12:20 AM Report Share Posted December 30, 2011 at 12:20 AM I would be shocked to hear that a condominium/HOA Board would be unable to impose a special assessment, at least not according to my personal experience.Indeed, but the poster should check the Bylaws and applicable law for the details. It may be, for instance, that a special assessment is permitted but only under specific circumstances. Special assessments are not permitted under RONR. (RONR, 11th ed., pg. 572, lines 2-4) Link to comment Share on other sites More sharing options...
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