Bill > H993

This bill requires Homeowners Associations (HOAs) and lot owners' associations in North Carolina to be organized as either a business corporation, nonprofit corporation, or limited liability company (LLC), and mandates that these associations submit annual reports to the Secretary of State under specific conditions. The annual reports must include detailed information such as the association's name, registered office address, contact information for board members and management agents, and a link to the register of deeds website where the association's covenants are filed. If an association fails to submit its annual report within 60 days of the due date (April 15 each year), it will have certain powers suspended, including the ability to collect assessments and impose fees. Associations can regain their powers by submitting a corrected report within 30 days of being notified of the delinquency. The bill applies to both condominium and planned community associations and requires different reporting procedures based on the type of legal organization (nonprofit, business corporation, or LLC). These requirements aim to increase transparency and accountability for HOAs by ensuring they maintain current and accessible information with state authorities. The law will become effective on October 1, 2026, with the first annual reports due in 2027.

Government Affairs

https://www.ncleg.gov/BillLookUp/2025/H993