Frequently Asked Questions (FAQ)

1. How Can I Exercise My Rights as a Shareholder?

Exercising your rights as a shareholder in the North Hollywood Co-Op involves several important steps:

• Submit Written Requests: For record inspection or other requests, submit a formal written request to the board as required by California law.
• Document All Communications: Keep a record of all correspondence with the HOA, including dates and details of any requests or complaints.
• Attend Board Meetings: Participate in board meetings to stay informed and express your concerns or opinions.
• Use Dispute Resolution Procedures: Follow the established dispute resolution processes if you encounter conflicts with the HOA or other members.
• Seek Legal Advice if Necessary: Consult with an attorney specializing in HOA or co-op law if you believe your rights have been violated or need assistance navigating complex issues.

2. How Do I Request Financial Documents from the HOA?

As a shareholder, you have the right to request and inspect certain financial documents from the HOA under California law. Follow these steps:

• Understand Your Rights: You are entitled to access documents such as annual budgets, income and expense statements, balance sheets, reserve studies, and minutes of board meetings. Refer to California Civil Code Section 5200-5240 for more details.
• Draft a Formal Written Request: Use a formal letter template to request specific documents. Clearly state what you need, provide your contact information, and ask for the documents within the timeframe prescribed by law.
• Send Your Request: Deliver your request by certified mail with a return receipt requested or in person, ensuring you receive a dated receipt.
• Follow Up: If you do not receive a response within 10 business days, follow up with another letter or a call to the HOA board, and keep records of all communications.
• Escalate if Necessary: If the HOA does not comply, consider attending a board meeting to raise the issue publicly, seeking legal advice, or filing a complaint with the California Department of Real Estate.

3. What Should I Do If I Encounter a Conflict with the HOA?

If you have a dispute or conflict with the HOA, it is important to address it systematically:

• Document the Issue: Keep a detailed record of the conflict, including dates, communications, and any actions taken.
• Follow Internal Dispute Resolution (IDR) Procedures: Request IDR, which is a process designed to resolve disputes internally within the HOA.
• Consider Alternative Dispute Resolution (ADR): If IDR fails, mediation or arbitration may be a suitable next step.
• Seek Legal Recourse: For unresolved issues, consult an attorney specializing in HOA law or consider pursuing legal action.

4. Where Can I Find Templates for Requesting Documents?

If you need to formally request documents from the co-op board, you can use the following templates:

• Request for Financial Documents Template - Use this template to request access to financial documents, such as annual budgets, financial statements, and meeting minutes.
• Request for Legal Documents Template - Use this template to request access to legal documents, including the Bylaws, Articles of Incorporation, and CC&Rs.