State officials, in an “unprecedented action” announced on Tuesday, removed the entire three-member board of the Autumn Chase Homeowners Association in North Las Vegas.
This is the first time the state has taken such an action against a HOA’s board for violating the laws. Terry Johnson, director of the Nevada Department of Business & industry, which runs the Real Estate Division, said “”It is critically important that homeowners associations operate with transparency and accountability in carrying out their duties.”
The board members were ordered to surrender the association’s credit card and give all of the associations records to the state until a new board can be elected.
These actions resulted from a complaint against the board members accusing them of a series of violations including; failing to prepare financial statements or conduction board elections.
All three board members also were charged with retaliating against the homeowners who filed the complaint with the Real Estate Division and of improperly charging more than $10,000 on the association’s credit card for their personal use.
The Autumn Chase Homeowners Association has 46 homeowners and operates on a $9000 annual budget.
Gail Anderson, the Real Estate Division’s administrator, said Monday’s disciplinary action against the three Autumn Chase board members was necessary to “protect the interests of all homeowners in this association.”
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