Annual Disclosures under the New Davis-Stirling Act

Disclaimer: The rules and procedures described below are taken from the New Davis-Stirling Act, effective January 1st, 2014. To revisit the current requirements, review all sections (and subsections) of Civil […]

§5320 – Report Delivery

When a report is prepared pursuant to Section 5300 or 5310, the association shall deliver one of the following documents to all members, by individual delivery pursuant to Section 4040: […]

§5310 – Annual Policy Statement

Within 30 to 90 days before the end of its fiscal year, the board shall distribute an annual policy statement that provides the members with information about association policies. The […]

§5305 – Financial Statement Review

Unless the governing documents impose more stringent standards, a review of the financial statement of the association shall be prepared in accordance with generally accepted accounting principles by a licensee […]

§5300 – Annual Budget Report

Notwithstanding a contrary provision in the governing documents, an association shall distribute an annual budget report 30 to 90 days before the end of its fiscal year. Unless the governing […]

§8321 – Annual Report

A corporation shall notify each member yearly of the member’s right to receive a financial report pursuant to this subdivision. Except as provided in subdivision (c), upon written request of […]