MANAGEMENT COMPANY
TRANSFER OF RECORDS

Whenever the services of a management company have been terminated, the company must immediately turnover all association records to the board of directors. The management company cannot hold them hostage. Such an action is a breach of the professional code of conduct for management companies and can have legal consequences.

Boards should make a written demand that all association property and records be transferred to the new management company. This includes, but is not limited to, the following:

Governing Documents
1.  Articles of Incorporation
2.  Bylaws
3.  CC&Rs
4.  Condominium Plan
5.  Rules & Regulations

Membership List
Current names, addresses, phone numbers

Minutes
1.  Board meetings
2.  Committee meetings
3.  Membership meetings

Financial Records
1.  Budget
2.  Reserve studies
3.  General ledger
4.  Bank statements & check register
5.  Bank signature cards
6.  Delinquency list and liens
7.  Paid invoices and accounts payable
8.  Monthly financial statements
9.  Year-end financial statement (audit)
10. Tax returns

Personnel Records
1.  Employment contracts
2.  Payroll documents

Insurance Files
1.  All policies, past and present
2.  Any open claims

Vendor Records
1.  List of all vendors, addresses, & phone numbers
2.  All contracts, past and present
3.  All warranties

Architectural Records
1.  Building plans
2.  Landscaping plans
3.  0wner architectural records

Litigation Files
1.  Legal correspondence
2.  Litigation records, past and present

Website
1.  Domain name
2.  pdf files
3.  Html and asp pages

Keys
1.  Common areas
2.  Vehicles
3.  Bulletin boards

Miscellaneous
1.  Operations manuals
2.  All records and property of any kind belonging to the association

Updated 8/21/2007