QUESTION: If a unit is foreclosed does the bank receive a ballot for voting? What does this do to the overall number to establish a quorum?

ANSWER: If a unit is bank-owned, the bank has a right to vote just like any other owner. If the bank is current in paying its assessments, it is in "good standing" and its units are included in the calculation of a quorum.

Problems with Banks. There are two problems with bank-owned properties--knowing who to send the ballots to and getting them to vote. Banks almost never participate in anything. If the board can identify someone at the bank who handles the REO Department and develop a working relationship with that person, the HOA could probably talk them into returning a ballot for quorum purposes. To eliminate this problem altogether, associations should amend their bylaws to eliminate quorum requirements for the election of directors. In addition, associations should record a "Request for Notice" whenever a foreclosure occurs.