Requires lot owners' associations and unit owners' associations to incorporate or organize as corporations or limited liability companies and submit.

This bill mandates that lot owners' associations and unit owners' associations in North Carolina must organize as nonprofit corporations, business corporations, or limited liability companies. It requires these associations to submit annual reports to the Secretary of State, including specific details such as the names and contact information of executive board members, officers, and community management agents, as well as links to relevant official websites.

Requires lot owners' associations and unit owners' associations to incorporate or organize as corporations or limited liability companies and submit.

This bill mandates that lot owners' associations and unit owners' associations in North Carolina must organize as nonprofit corporations, business corporations, or limited liability companies. It requires these associations to submit annual reports to the Secretary of State, including specific details such as the names and contact information of executive board members, officers, and community management agents, as well as links to relevant official websites.