NC H1084

Requires associations to file notice of satisfaction of liens with the clerk of court within 30 days of receiving full payment; associations failing to do so are liable for actual damages, $1,000, and reasonable attorneys' fees if lot owner provides certified notice and association fails to comply within 30 additional days.

Mandates annual independent financial review of associations completed within 120 days of fiscal year end; requires annual independent financial audit instead if association has revenues/expenditures of at least $100,000, governing documents require audit, or majority votes for audit.

Requires association meeting notices to describe the general nature of all material matters for which a vote will be taken; voids actions taken at meetings held in violation of association bylaws or applicable statutory provisions.

Establishes detailed voting procedures including absentee ballots (upon 7-day request), proxy voting (valid only if dated and identifying matter to be voted; void if favoring board member; limited to 15% of total votes per person), and ballot voting without meetings.

Allows parties to disputes arising under planned community or condominium acts to use alternative dispute resolution; requires use of Dispute Resolution Commission-certified mediators and written authentication for binding arbitration agreements.