§ 31-44-14 - Resident owned mobile home parks – Record keeping.
SECTION 31-44-14
§ 31-44-14 Resident owned mobile homeparks – Record keeping. – (a) Resident owned mobile home parks shall maintain a copy of each of thefollowing, where applicable, which shall constitute the official records of theassociation:
(1) The plans, permits, warranties, and other items providedby the developer;
(2) A photocopy of the resident association documents;
(3) A copy of the current rules of the association;
(4) A book or books containing the minutes as well as anytape recordings, if any, of all meetings of the association, of the board ofdirectors, and of the unit owners, which minutes and tapes shall be retainedfor a period of not less than seven (7) years. Any tape recordings shall not beconsidered an official record, and these tapes shall be available to any memberto be duplicated at the members' cost and expense. The duplication cost shallnot exceed ten dollars ($10.00) per tape;
(5) A current roster of all unit owners and their mailingaddresses, unit identification, and, if known, telephone numbers; streetaddress;
(6) All current insurance policies of the association,including a fiduciary bond of the association, and their agents;
(7) A current copy of any management agreement, lease, orother contract to which the association is a party or under which theassociation or the unit owners have an obligation or responsibility;
(8) Bills of sale or transfer for all property owned by theassociation;
(9) Accounting records for the association and separateaccounting records for each unit it operates, according to good accountingpractices in accordance with generally acceptable accounting principles. Allaccounting records shall be maintained for a period of not less than seven (7)years:
(i) Accurate, itemized, and detailed records of all receiptsand expenditures.
(ii) A current account and a monthly, bimonthly, or quarterlystatement of the account for each unit designating the name of the unit owner,the due date and amount of each assessment, the amount paid upon the account,and the balance due.
(iii) All audits, reviews, accounting statements, andfinancial reports of the association.
(iv) All contracts for work to be performed. Bids for work tobe performed shall also be considered official records and shall be maintainedfor a period of one year.
(10) Ballots, sign-in sheets, voting proxies, and all otherpapers relating to elections, which shall be maintained for a period of oneyear from the date of the meeting to which the document relates;
(11) All rental records where the association is acting asagent for the rental unit.
(b) The official records of the association shall bemaintained in the city or town in which the resident owned association operates.
(c) The official records of the association shall be open toinspection by any association member or the authorized representative of amember at all reasonable times. Failure to permit inspection of the associationrecords as provided in this section entitles any person prevailing in anenforcement action to recover reasonable attorney's fees from the person incontrol of the records who, directly or indirectly, knowingly denies access tothe records for inspection. The right to inspect the records includes the rightto make or obtain copies, at the reasonable expense, if any, of the associationmember.
(d) Insurance. The association shall use its bestefforts to obtain and maintain adequate insurance to protect the associationproperty.
(e) Financial report. Within sixty (60) days followingthe end of the fiscal or calendar year or annually on a date otherwise providedin the bylaws of the association, the board of directors of the associationshall mail or furnish to each unit owner a complete financial report of actualreceipts and expenditures for the previous twelve (12) months. The report shallshow the amounts of receipts by accounts and receipt classification and shallshow the amounts of expenses by accounts and classification including, but notlimited to, the following:
(1) Cost for security;
(2) Professional and management fees and expenses;
(3) Taxes;
(4) Costs of recreation facilities;
(5) Expenses for refuse collection and utilities;
(6) Expenses for lawn care;
(7) Costs for building maintenance and repair;
(8) Insurance costs;
(9) Administrative and salary expenses;
(10) General reserves, maintenance reserves, and depreciationreserves;
(11) Aging of all rental income and accounts payable.
(f) Elections. The members of the resident ownedmobile home park, responsible for tabulating votes cast in any election held bythe resident owned mobile home park, shall do so at a time and place open forviewing by the members of the resident owned park, within the city or town inwhich the resident owned association operates.