(a) The association shall keep financial records sufficientlydetailed to enable the association to comply with this chapter. All financialand other records, including records of meetings of the association andexecutive board, shall be made reasonably available for examination by any unitowner and the unit owner's authorized agents as required by the bylaws and byChapter 55A of the General Statutes if the association is a nonprofitcorporation. If the bylaws do not specify particular records to be maintained,the association shall keep accurate records of all cash receipts andexpenditures and all assets and liabilities. In addition to any specificinformation that is required by the bylaws to be assembled and reported to theunit owners at specified times, the association shall make an annual income andexpense statement and balance sheet available to all unit owners at no chargeand within 75 days after the close of the fiscal year to which the informationrelates. Notwithstanding the bylaws, a more extensive compilation, review, oraudit of the association's books and records for the current or immediatelypreceding fiscal year may be required by a vote of the majority of theexecutive board or by the affirmative vote of a majority of the unit ownerspresent and voting in person or by proxy at any annual meeting or any specialmeeting duly called for that purpose.
(b) The association, upon written request, shall furnish a unitowner or the unit owner's authorized agents a statement setting forth theamount of unpaid assessments and other charges against a unit. The statementshall be furnished within 10 business days after receipt of the request and isbinding on the association, the executive board, and every unit owner.
(c) In addition to the limitations of Article 8 of Chapter 55Aof the General Statutes, no financial payments, including payments made in theform of goods and services, may be made to any officer or member of theassociation's executive board or to a business, business associate, or relativeof an officer or member of the executive board, except as expressly providedfor in the bylaws or in payments for services or expenses paid on behalf of theassociation which are approved in advance by the executive board. (1985 (Reg. Sess., 1986), c. 877, s. 1; 2005‑422, s. 17.)
(a) The association shall keep financial records sufficientlydetailed to enable the association to comply with this chapter. All financialand other records, including records of meetings of the association andexecutive board, shall be made reasonably available for examination by any unitowner and the unit owner's authorized agents as required by the bylaws and byChapter 55A of the General Statutes if the association is a nonprofitcorporation. If the bylaws do not specify particular records to be maintained,the association shall keep accurate records of all cash receipts andexpenditures and all assets and liabilities. In addition to any specificinformation that is required by the bylaws to be assembled and reported to theunit owners at specified times, the association shall make an annual income andexpense statement and balance sheet available to all unit owners at no chargeand within 75 days after the close of the fiscal year to which the informationrelates. Notwithstanding the bylaws, a more extensive compilation, review, oraudit of the association's books and records for the current or immediatelypreceding fiscal year may be required by a vote of the majority of theexecutive board or by the affirmative vote of a majority of the unit ownerspresent and voting in person or by proxy at any annual meeting or any specialmeeting duly called for that purpose.
(b) The association, upon written request, shall furnish a unitowner or the unit owner's authorized agents a statement setting forth theamount of unpaid assessments and other charges against a unit. The statementshall be furnished within 10 business days after receipt of the request and isbinding on the association, the executive board, and every unit owner.
(c) In addition to the limitations of Article 8 of Chapter 55Aof the General Statutes, no financial payments, including payments made in theform of goods and services, may be made to any officer or member of theassociation's executive board or to a business, business associate, or relativeof an officer or member of the executive board, except as expressly providedfor in the bylaws or in payments for services or expenses paid on behalf of theassociation which are approved in advance by the executive board. (1985 (Reg. Sess., 1986), c. 877, s. 1; 2005‑422, s. 17.)
(a) The association shall keep financial records sufficientlydetailed to enable the association to comply with this chapter. All financialand other records, including records of meetings of the association andexecutive board, shall be made reasonably available for examination by any unitowner and the unit owner's authorized agents as required by the bylaws and byChapter 55A of the General Statutes if the association is a nonprofitcorporation. If the bylaws do not specify particular records to be maintained,the association shall keep accurate records of all cash receipts andexpenditures and all assets and liabilities. In addition to any specificinformation that is required by the bylaws to be assembled and reported to theunit owners at specified times, the association shall make an annual income andexpense statement and balance sheet available to all unit owners at no chargeand within 75 days after the close of the fiscal year to which the informationrelates. Notwithstanding the bylaws, a more extensive compilation, review, oraudit of the association's books and records for the current or immediatelypreceding fiscal year may be required by a vote of the majority of theexecutive board or by the affirmative vote of a majority of the unit ownerspresent and voting in person or by proxy at any annual meeting or any specialmeeting duly called for that purpose.
(b) The association, upon written request, shall furnish a unitowner or the unit owner's authorized agents a statement setting forth theamount of unpaid assessments and other charges against a unit. The statementshall be furnished within 10 business days after receipt of the request and isbinding on the association, the executive board, and every unit owner.
(c) In addition to the limitations of Article 8 of Chapter 55Aof the General Statutes, no financial payments, including payments made in theform of goods and services, may be made to any officer or member of theassociation's executive board or to a business, business associate, or relativeof an officer or member of the executive board, except as expressly providedfor in the bylaws or in payments for services or expenses paid on behalf of theassociation which are approved in advance by the executive board. (1985 (Reg. Sess., 1986), c. 877, s. 1; 2005‑422, s. 17.)
