Page 14 - Remington Acres Estates HOA - Board Meeting - February 2, 2021
P. 14
REMINGTON ACRES ESTATES HOA
Dissolving the HOA
If the corporation dissolves, it only dissolves the corporation and removes a layer of
liability protection for directors and Owners. The Association continues to exist
under the CC&Rs as an unincorporated association. In unincorporated associations,
the Owners are directly liable for accidents on the common areas and all other
liabilities of the unincorporated association. If someone is assaulted, all the Owners
will be sued because there is no corporation to sue. Bad idea.
If the corporation must be dissolved, and the plat and CC&Rs have to be
terminated. It takes a vote of 67% of the Owners to terminate the CC&Rs. To
terminate the plat, the Town of Marana and Pima County must agree, as well as
getting the 67% vote. To avoid individual liability, the corporation should be
dissolved last.
It takes a vote of 67% of a quorum to amend the articles of incorporation.
Dissolution is horrendously complex and costly in legal fees.
Cassie Livingston
c/o ADAM LLC
516 E. Fort Lowell Road
Tucson, Arizona 85705
520.624.1206 Extension 316
Email – Cassie@adamllc.com
www.raehoa.com
