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Idaho Statutes
Idaho Statutes are updated to the website July 1 following the legislative session.
PROPERTY IN GENERAL
CHAPTER 32
HOMEOWNER’S ASSOCIATION ACT
55-3205. DISCLOSURE OF FEES and financial disclosures. (1) A homeowner’s association or its agent must provide a member and the member’s agent, if any, a statement of the member’s account no more than five (5) business days after a request by the member or the member’s agent is received by the manager, president, board member, or other agent of the homeowner’s association, or any combination thereof. The statement of account must include, at a minimum, the amount of annual charges against the property, the date when said amounts are due, and any unpaid assessments or other charges due and owing from such member at the time of the request. The homeowner’s association will be bound by the amounts set forth within the statement of account. Charging a fee for any statement of the member’s account required by this section is a violation of the Idaho consumer protection act, chapter 6, title 48, Idaho Code.
(2) On or before January 1 of each year, a homeowner’s association or its agent must provide its members a disclosure of fees that will be charged to a member in connection with any transfer of ownership of his property. Fees imposed by a homeowner’s association for the calendar year following the disclosure of fees may not exceed the amount set forth on the annual disclosure, and no surcharge or additional fees may be charged to any member in connection with any transfer of ownership of his property.
(3) A homeowner’s association or its agent must provide a member and the member’s agent, if any, an up-to-date financial disclosure no more than ten (10) business days after a request by the member or the member’s agent is received by the manager, president, board member, or other agent of the homeowner’s association, or any combination thereof.
(4) Within sixty (60) days of the close of the fiscal year, a homeowner’s association or its agent must provide all members of the organization, and the member’s agent, if any, with an up-to-date and reconciled financial disclosure for the fiscal year.
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