La Cantera Community Organization Inc

“The association hired a management company to perform day to day opeartion under the instruction of the board of directors.”

“According to the by-laws of la cantera community organization, inc., directors shall be appointed by the declarant which is la cantera development company. La cantera development company is also the management agent.”

“A public accounting firm prepares the return and non-tax personnel and the board of directors review the return prior to filing with the irs.”

“The by-laws of la cantera community organization, inc. Contain conflict of interest guidance regarding disclosure to the board of directors of "any financial or other interest which the management agent may have in any firm providing goods or services to the community organization." the by-laws also prohibit the acceptance of remuneration" by the management agent from vendors, independent contractors, or others providing goods or services to the community organization." the board of directors are also employees of the declarant's affiliate, usaa real estate company. Usaa real estate company has adopted a conflict of interest and business ethics policy that is the responsibility of every employee. Disregarding or falling to comply with this policy can lead to disciplinary action up to and including possible termination of employment.”

“According to section 4.21(e) of the by-laws of la cantera community organization, inc., "an annual report consisting of at least the following shall be made available to all owners upon request, within 120 days after the close of the fiscal year: (1) a balance sheet; (2) an operating (income) statement; and (3) a statement of change in financial position for the fiscal year. Such report shall be prepared on an audited or review basis, as the board determines, by an independent public accountant." in addition, section 7.4(a) states "the board shall make the following available for inspection and copying by and holder, insurer or guarantor of a first mortgage on any parcel, any owner, or the duly authorized representative of any the foregoing at any reasonable time and for a purpose reasonably related to his or her interest in such property: the articles of incorporation, by-laws, rules of the community organization, including any amendments to the foregoing, books of account, and the minutes of the board and committees. The community organization shall provide for such inspection to take place at the office of the community organization or at such other place within the community as the board may designate.”