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Distribution of Financial & Insurance Documents

Distribution of Financial & Insurance Documents

SECTION 5200 - 5240

Preparation and distribution of financial and insurance documents

5200.  For the purposes of this article, the following definitions shall apply:   

(a) "Association records" means all of the following:   

(1) Any financial document required to be provided to a member in Article 7 (commencing with Section 5300) or in Sections 5565 and 5810.  

 (2) Any financial document or statement required to be provided in Article 2 (commencing with Section 4525) of Chapter 4.   

(3) Interim financial statements, periodic or as compiled, containing any of the following:  

 (A) Balance sheet.   

(B) Income and expense statement.  

 (C) Budget comparison.  

 (D) General ledger. A "general ledger" is a report that shows all transactions that occurred in an association account over a specified period of time.   The records described in this paragraph shall be prepared in accordance with an accrual or modified accrual basis of accounting.   

(4) Executed contracts not otherwise privileged under law.   

(5) Written board approval of vendor or contractor proposals or invoices.  

 (6) State and federal tax returns.  

 (7) Reserve account balances and records of payments made from reserve accounts.  

 (8) Agendas and minutes of meetings of the members, the board, and any committees appointed by the board pursuant to Section 7212 of the Corporations Code; excluding, however,minutes and other information from executive sessions of the board as described in Article 2 (commencing with Section 4900).  

 (9) Membership lists, including name, property address, and mailing address, but not including information for members who have opted out pursuant to Section 5220.  

 (10) Check registers.   

(11) The governing documents.  

 (12) An accounting prepared pursuant to subdivision (b) of Section 5520.   

(13) An "enhanced association record" as defined in subdivision (b).  

 (b) "Enhanced association records" means invoices, receipts and canceled checks for payments made by the association, purchase orders approved by the association, credit card statements for credit cards issued in the name of the association, statements for services rendered, and reimbursement requests submitted to the association. 5205. 

 (a) The association shall make available association records for the time periods and within the timeframes provided in Section 5210 for inspection and copying by a member of the association, or the member's designated representative.  

 (b) A member of the association may designate another person to inspect and copy the specified association records on the member's behalf. The member shall make this designation in writing.   

(c) The association shall make the specified association records available for inspection and copying in the association's business office within the common interest development.   

(d) If the association does not have a business office within the development, the association shall make the specified association records available for inspection and copying at a place agreed to by the requesting member and the association.  

 (e) If the association and the requesting member cannot agree upon a place for inspection and copying pursuant to subdivision 

(d) or if the requesting member submits a written request directly to the association for copies of specifically identified records, the association may satisfy the requirement to make the association records available for inspection and copying by delivering copies of the specifically identified records to the member by individual delivery pursuant to Section 4040 within the timeframes set forth in subdivision (b) of Section 5210.  

 (f) The association may bill the requesting member for the direct and actual cost of copying and mailing requested documents. The association shall inform the member of the amount of the copying and mailing costs, and the member shall agree to pay those costs, before copying and sending the requested documents.  

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