Community associations are typically required to maintain some level of insurance to protect the association, its members, and shared assets from the risk of financial loss. These requirements are shaped by governing documents, laws and regulations, lender requirements, and best practice. One of the most common — and consequential — questions in community associations is about how insurance responsibilities are divided. Who covers what?
Clear, well-crafted governing documents are the backbone of a thriving community association. These essential documents need to be regularly reviewed, evaluated, and strengthened to keep up with changing conditions, issues, and attitudes. Here’s how to know when to update them.
The Landings Association, a multigenerational haven for 9,000 residents on Skidaway Island, Ga., combines resort-style living with small town charm. After noticing significant demographic changes, the unique, large-scale, 50-year-old community near Savannah decided it was time to undertake a strategic plan. Here’s how.
When my wife and I moved into our community association, I was simply excited to be part of a new building. As I got to know my neighbors, attended board meetings, and saw how deeply people cared, I realized how meaningful it would be for me to help guide our community transition from developer control to homeowner-led governance.
In a unanimous decision, the U.S. Court of Appeals for the 11th Circuit reversed and remanded a lower court’s stay of the Corporate Transparency Act. This decision lifts the order blocking enforcement of the act issued by a district court in March 2024 that paused all reporting requirements. Despite the court ruling, community associations can continue to ignore the act’s requirements to report beneficial ownership information to the Treasury Department’s Financial Crimes Enforcement Network.
