What I can do if the president of our small assosiation doesn't show us any financial report ? I think he is cheating us.

Question

What I can do if the president of our small assosiation doesn't show us any financial report ? I think he is cheating us.

Answer

Under Section 19 of the Illinois Condominium Property Act, any member of the Association has the right to review, inspect, copy....records at the association offices at reasonable times..... You can do it in person or you can hire someone to come with. There are 2 kinds of records. You want financial information. It must be for a "proper purpose" but that is very broad. It can include your possible interest in running for the board and understanding the association's finances, it can be for you as an owner to understand what the association is paying for that you are paying for... You must direct the request in writing and the association has 30 days to respond. If they don't you may be able to file suit and get the fees and costs paid by the association. The other way is for 20% of the owners (not 20% of the units but 20% of the ownership of the common elements) can petition for an owners' meeting to discuss finances or any other matters of concern to the owners. No formal action is taken at such meetings but it can start heading in that direction if the board remains stubborn.....