Current through the 2024 Fourth Special Session
Section 3-1-42 - Association's records(1) An association shall keep as permanent records:(a) minutes of meetings of its members and board of directors;(b) a record of each action taken by the consent of the members or board of directors without a meeting;(c) a record of each action taken on behalf of the association by a committee of the board of directors in place of the board of directors; and(d) a record of waivers of notices of meetings of members, board of directors, or committees of the board of directors.(2) An association shall maintain:(a) appropriate accounting records; and(b) a record of the names and addresses of its members and shareholders.(3) An association shall maintain its records in written form or in a form capable of being converted into written form within a reasonable time.(4) An association shall keep a copy of the following records at its principal office:(a) its most current articles of incorporation;(b) its most current bylaws;(c) the minutes of meetings of members, board of directors, and committees for the past three years;(d) a list of the names and business addresses of its current officers and directors;(e) its most recent annual reports delivered to the division as provided under Section 3-1-25; and(f) financial statements prepared for periods ending during the last three years.Enacted by Chapter 204, 1994 General Session