No, the moment a Certificate of Registration is issued, the association acquires and continues juridical personality. However, submission of financial statements and other reportorial requirements shall now be with the HLURB.
Can officers of a developer collect association dues or fees from homeowners for the maintenance and security of a subdivision?
No, because association dues or fees for the maintenance and security of a subdivision can only be collected by a property organized Homeowners Association with the consent of a majority of the lot or unit buyers actually residing in the subdivision project (Sec. 27 of PD 957)
back to FAQs
|
