The Audit and Assessments for 2012

 Audit or Review:

• ARTICLE IX  OFFICERS AND THEIR DUTIES  Treasurer (d)  The treasurer shall  cause an annual audit of the Association books to be made by a public accountant at the completion of each fiscal year. (Are you listening Treasurer??)
• ARTICLE X BOOKS AND RECORDS AND RECORDS   2.  There shall be an annual audit of the books and records of the corporation by an independent public accountant and a copy thereof shall be sent to each member  within thirty (30) day after completion thereof.
• Some claim that the board voted to just do a review instead of an audit. That is NOT legal. The by-laws must be amended by a vote of the members  to change from an audit to a review. (ARTICLE XIV AMENDMENTS:These bylaws may be amended, at a regular or special meeting of the members, by a vote of a seventy-five percent (75%) majority of a quorum of members present in person or by proxy.)  (If there was, in fact,  an amendment to the by-laws  then the courts will make BTMA provide the meeting notes of when it was done. It is better to hae the audit instead of wasting money on the review, then being forced to also have an audit as the money spent for the review will be a waste. (See below)

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Oklahoma General Corporation Act  § 1014.1. Interpretation and Enforcement of the Certificate of Incorporation and Bylaws  
Any shareholder, member or director may bring an action to interpret, apply or enforce the provisions of the certificate of incorporation or the bylaws of a domestic corporation in the district court.
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Assessments

• Covenants for all subdivisions state that homeowners can be assessed  for actual repair, upkeep and maintenance for common grounds and facilities within their own subdivision. However, even if the subdivisions had common grounds or facilities how would the subdivisions board of directors know beforehand what the "actual" cost would be?  Oh, wait there couldn't be any mandatory assessment as no subdivision owns any common grounds or facilities.
• Where in any legal documents does it say who are the members of the BTMA? According to legal counsel, several homeowners have learned that the Articles of Incorporation do NOT state that any subdivision is a member.  Read the blog post below for an explanation as to why everyone has gotten so confused.