Q & A

FDIC Limits and the Emergency Economic Stabilization Act of 2008

Q I am the treasurer of a condominium association. I am concerned about how the Emergency Economic Stabilization Act may affect the safety of our association's accounts with banks. Our association collects monthly maintenance payments from members and deposits the funds into three accounts that are used for operating expenses, security deposits, and large-project reserves. Please explain how our accounts might be affected by the act.

Verifying Member’s Military Service for SCRA

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Q In some cases, I have heard that the law limits our association's collection rights against members who are serving in the military. If this is true, can you please explain the limitations and how our association can verify whether a defaulting member is indeed serving in the military?

Getting Copyright Licenses for Music and Movie Nights

Q Our association is considering different activities to bring the community together. We are thinking of having a movie night or organizing an event with live music. Do we need to be worried about copyrights. Can an association get in trouble if it shows movies in the clubhouse or hosts a gathering where music is played?