At least every three years, the board shall provide for a financial audit, review or compilation of the association's records in accordance with generally accepted accounting principles by an independent certified public accountant and shall provide that the cost thereof be assessed as a common expense. The audit, review or compilation shall be made available to lot owners within thirty calendar days of its completion.
§ 47-16-10 NMSA 1978
Financial audit
Known as the Homeowner Association Act
The act spans §§ 47–47 (19 sections).
Laws 2013, ch. 122, § 10; 2019, ch. 30, § 5.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.