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3/6/2012 6:35:01 PM
 
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Section 5: OPA Board Subject: OPA Loses IRS Case Msg# 823838
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One other thing the board should keep in mind if they decide to use reserve funds; a super majority vote will be required.
So what? Does anyone believe the board members will vote against paying the federal government AFTER losing a case in the U.S. Court of Appeals. Even if the board doesn't vote, the government will come in and just TAKE the money. What the heck is your point? As for the semantics about "special assessment," if the board tacks $120 on to the assessment, I'd say that is a special assessment, regardless of the semantics or by-laws. BTW, the DRS state, "... including (but not limited to) the power to levy against every member of the Association a uniform annual charge ..." I suggest "not limited to" covers a lot of territory when it comes to what the board can do. |
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For reference, the above message is a reply to a message where: I don't think there is any need for a special assessment. Ted, let's put this one thing to bed; need doesn't matter since neither the Bylaws nor the Articles of Incorporation will allow the board to call for a "special" assessment. Both documents only allow for "an annual" assessment. They could increase the regular yearly assessment, but could not have an extra one. One other thing the board should keep in mind if they decide to use reserve funds; a super majority vote will be required. Bill Z |
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