2025 Session
Last amended: 1988 session
§ 306.40 — Secretary's Annual Report
Plain-Language Summary
Requires the fund secretary to file an annual report of the fund's condition with the association.
306.40 SECRETARY’S ANNUAL REPORT.
When a care and improvement fund is in the care of a board of trustees, the secretary of the association shall be its secretary and keep a full record of its proceedings. The board, on November 1 each year, shall make a full report of the condition of the fund to the trustees of the association. The report must be open to the inspection of all lot owners.
History:
(7594) RL s 2959; 1988 c 469 art 5 s 1
History: History: (7594) RL s 2959; 1988 c 469 art 5 s 1
Practical Notes
Each year, the fund trustees must report on how much money is in the fund and how it was used.