Author Topic: Help - condo HOA involuntarily dissolved???  (Read 1000 times)

dreamer8887

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Help - condo HOA involuntarily dissolved???
« on: March 21, 2017, 02:03:35 PM »
Hey everyone,

Asking for DH (but obviously affects me) - he just volunteered to become President of our HOA. Condo is in Illinois, there are 21 units, most owner-occupied.

He just got a note from the treasurer letting us know that "our corporation was involuntarily dissolved" - I assume treasurer saw this on the Secretary of State website or got some other notification.

Board is meeting tonight so I assume we'll get more information on how this came to treasurer's attention, and hopefully what caused this, but thought I'd check in with the brains trust here on the forums for advice on (a) what this means (b) how did this possibly happen and (c) how do we fix it?

SnackDog

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Re: Help - condo HOA involuntarily dissolved???
« Reply #1 on: March 22, 2017, 12:43:37 AM »
Probably means some annual paperwork and fee was not filed wth the state. It can be fixed.

SeattleCPA

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Re: Help - condo HOA involuntarily dissolved???
« Reply #2 on: March 22, 2017, 06:09:54 AM »
Probably means some annual paperwork and fee was not filed wth the state. It can be fixed.

Agree with SnackDog. Also, tax law probably still treats the association as a corporation. For what that's worth...