Community Association – Corporate Filings
Most community associations, condominium associations, and cooperatives in New Jersey were organized as non-profit corporations. Corporations, even non-profit corporations, have certain annual filing requirements which must be made with the State of New Jersey. We are seeing an increased number of associations which have not maintained their corporate filings and have even reinstated a few which had to change their corporate names.
The requirements are not complex but must be addressed regularly and accurately. A corporation must submit an annual report with the required fee each year following its date of incorporation. This is also an opportunity to ensure that its registered agent and the physical location of the registered office is correct. A corporation which fails to file its annual report for two consecutive years may have its charter revoked. As a result of this revocation, the corporation can lose the right to use its corporate name, among other things. To reinstate its good standing, the corporation must submit certain forms and fees. If, while its charter was revoked its name has been “taken” by another corporation, the association will have to come up with a new name requiring new filings and additional fees. A Stark & Stark attorney can serve as the association’s registered agent which facilitates the necessary filings each year.
Please take a moment to ensure that your association’s corporate filings are up to date.
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2 Replies to “Community Association – Corporate Filings”
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I live in Freehold, NJ, at Wyndham Place @ Freehold condominiums. I have two questions, 1. These condos of over 350 have been built in 4 stages with I recall 3 different builders in the last 18 years. Each section was given a amount for a maintenance fee as it was finished. By the time the last section was finished which could have been about 10 years apart due to different builders claiming bankrupcy, is it right, that phase on was never brought up to the same amount of monthly maintenance as phase 4, and all the units 4 diff, models are about the same size. Last year we were assesed due to insurance going up from 147.50 to an even 171.00. They did not give how they arrived at the new maintenance figures, and they all became even numbers. Does this seem right?
questions 2 – I just received to a letter stateing that there was excessive snow removal this year and everyone is being assessed for to months maintenance. and that the state requires an inspection, and that it will be paid by the homeowners. What kind of inspeciton would this be and why are the homeowners and not the association paying for this inspection. I also do not rememeber the last time there was an election to the board. Should n’t officers change every so many years?
Please Help. I write to you because I worked for Condominium Attorneys in Sarasota, Fl (Becker and Poliakoff, P.A.) and they were always so helpful, that reading about your firm on the internet, it sounds so much like the firm I use to work for.
how do we find out if these additional assessments are legitimate and how the $ is being used? In addition what about the Association not maintaining the outside and upkeep of our neighborhood. It is more like a dictatorship then an Community Association looking out for our best interest