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RECORDING
BOARD MEETINGS
QUESTION: I suggested to our board that meetings be recorded and put on our portal so members not able to attend could review the proceedings. Our manager said that it is against Davis-Stirling to do so. Your comments would be welcome. –Jim N.
ANSWER: The Davis-Stirling Act does not prohibit the recording of meetings. Boards can record and post meetings if they so choose. Our firm advises against attendees recording meetings. Those who bring audio or video recorders to board meetings often do so because they are threatening litigation. It has a chilling effect on members who may be reluctant to speak for fear of being dragged into litigation or appearing on internet websites.
TAXES ON
RESERVE INVESTMENTS
QUESTION: Our reserve investments produce significant interest. When it comes to paying taxes on the interest, our management company requires us to pay the taxes from our operating account. This seems counter-intuitive. -Rich H.
ANSWER: Interest on investments is taxable income. If the interest is part of your reserve study's funding plan, transferring the interest from your reserve account to pay taxes qualifies as "borrowing" from your reserves, which must be repaid. It makes more sense to include a line item in your budget for taxes, and pay them from your operating account. Robert Nordlund, CEO of Association Reserves, and I will cover reserve funding in our webinar on Wednesday, June 25.
RULES ENFORCEMENT
WEBINAR
 Are you struggling to enforce your governing documents?
Join Laurie Poole and Rob Ward for a lively discussion on enforcement strategies--what to know, and what to avoid.
Laurie and Rob will dive into the enforcement process with real-world examples and practical strategies. They will also take questions from the audience. The webinar will be held Tuesday, June 24 at 12:00 noon.
LEGAL RESPONSIBILITIES
REGARDING RESERVES
 Join Robert Nordlund, PE, RS, Founder/CEO of Association Reserves, and Adrian Adams, Founder of ADAMS|STIRLING, as they discuss legal responsibilities regarding reserve funding.
Robert and Adrian will cover board obligations, liabilities, and best practices, as well as governing document requirements, state laws, and the business judgment rule. In addition, they will take questions from the audience.
The webinar will be held Wednesday, June 25 at 11 a.m. and 1:30 p.m. Choose your preferred time from the drop down menu on the registration page.
JASON A. COHEN
JOINS ADAMS|STIRLING
 We are pleased to announce that attorney Jason Cohen joined our firm.
Jason is a graduate of the Brooklyn Law School. Prior to that, he earned a Bachelor of Arts from the University of Arizona in Philosophy and Psychology, cum laude. In addition, Jason studied abroad at the University of Bologna, Italy.
Jason previously served as general counsel for Los Angeles municipalities and school districts. His experience includes land use, ordinance review and drafting, nonprofit corporate formation and dissolution, and drafting bylaws. For more information or to request a proposal contact us.
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