New Statutory Homeowners Association Requirement

All homeowners associations should make note of a fairly new statutory requirement for the board to consider the desirability of filing notices to preserve the covenants or restrictions affecting the community or association from extinguishment under the Marketable Record Title Act, and to authorize and direct the appropriate officer to file notice in accordance with the new summary procedure. 

This consideration is to take place at the first board meeting each year, excluding the organizational meeting, which follows the annual meeting of the members for each homeowners association.