Bank Votes
Adams Stirling PLC
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BANK VOTES IN A RECALL

QUESTION: For purposes of a recall election, how does the fact that 30% of the properties in our development were foreclosed and are now owned by banks affect the vote?

ANSWER: Bank-owned units count toward the total voting power of the association. Banks, provided they are in good standing, have the right to vote in a recall. Unfortunately, banks rarely participate in any votes unless the issue directly affects the bank, at which point they vote "no" and preserve the status quo.

ASSISTANCE: Associations needing legal assistance can contact us. To stay current with issues affecting community associations, subscribe to the Davis-Stirling Newsletter.

Adams Stirling PLC