Question:
HOA is not following CCCR’s rules. they do not furnish financial statements. The homeowners can not find anyone to help. The New Mexico HOA State Laws have no means of enforcement. We have called every City, County, and State government. Court System, Attorney General. The senator who wrote the state law will not answer calls.
– Robert
Answer:
Hi Robert,
If your problem pertains to the HOA refusing to allow inspection, the New Mexico Homeowner Association Act Section 47-16-5(A) applies. According to this section, the HOA must make financial records available for review within 10 business days upon written request.
Section 47-16-5(D) also states that failure to provide access entitles lot owners to: “the greater of the actual damages incurred for the association’s willful failure to comply with this subsection or fifty dollars ($50.00) per calendar day, starting on the eleventh business day after the association’s receipt of the written request.” You may raise these with the HOA board if they refuse to allow you to inspect the financial statements.
However, if the problem pertains to the HOA not sending out copies of the financial statements when the CC&Rs say so, you may raise this with the HOA board as well by contacting them or speaking up at a board meeting. If they refuse, then you may remove the problem board member(s) according to the process outlined in the governing documents. If there is no procedure outlined, you may remove the board member by a two-thirds’ vote of all voting members present at a lot owner meeting with a quorum, as provided for in Section 47-16-8.1. For further guidance, kindly consult a lawyer.
Disclaimer: We are not lawyers. The information provided on this website does not constitute legal advice.
