Legal Question in Administrative Law in South Carolina

Home Owners Associations

Do the directors of a home owners association have any legal responsibility to give home owners an accounting, e.g.financial statement, of how their monthly dues are used.


Asked on 7/15/02, 6:16 pm

1 Answer from Attorneys

Charles Aspinwall Charles S. Aspinwall, J.D., LLC

Re: Home Owners Associations

Yes. They have a fiduciary duty to the members to account for the expenditure of any and all association funds. Such accountings are usually rendered once each year at the mandatory annual membership meeting.

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Answered on 7/16/02, 12:59 am


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