Record disclosure to members; updated information
- Statute:
- New Mexico §47-16-5 · Article HOA (New Mexico Homeowner Association Act (NMSA 47-16-1 to 47-16-18))
- Topic:
- Records & Disclosure · Inspection
- Applies to:
- HOA associations
On written request, make financial and other records available during regular business hours within ten business days. Inspection is free; copies capped at ten cents a page. Twelve named categories, including five years of open-meeting minutes, bank statements, reserves, all current contracts, insurance policies, and the names and addresses of all members. Miss the deadline and there is a rebuttable presumption of willful non-compliance; the owner is entitled to the greater of actual damages or fifty dollars per calendar day starting on the eleventh business day. Condo records under §47-7C-18 have no such clock or penalty.
📄 Read the official text at nmonesource.com →
How SoShiny helps with Record disclosure to members; updated information
SoShiny gives every owner instant, permissioned access to the official records this statute requires — searchable, audit-logged, and exportable for state inspections. The records survive every board turnover because they live in one place, not in someone's inbox.
See the feature → Start freeFrequently asked
- What does New Mexico §47-16-5 require?
- On written request, make financial and other records available during regular business hours within ten business days. Inspection is free; copies capped at ten cents a page. Twelve named categories, including five years of open-meeting minutes, bank statements, reserves, all current contracts, insurance policies, and the names and addresses of all members.
- Who does New Mexico §47-16-5 apply to?
- New Mexico §47-16-5 applies to HOA associations in New Mexico.
- What happens if our HOA doesn't comply with §47-16-5?
- Non-compliance can expose the association and individual directors to disputes in the governing forum for New Mexico community associations. SoShiny's audit trail and documented workflows are designed to demonstrate good-faith compliance.
- Where can I read the official text of New Mexico §47-16-5?
- The official text is published by the New Mexico Legislature at nmonesource.com. The summary on this page is for plain-English reference only and is not legal advice.
- How does SoShiny help with Record disclosure to members; updated information?
- SoShiny gives every owner instant, permissioned access to the official records this statute requires — searchable, audit-logged, and exportable for state inspections. The records survive every board turnover because they live in one place, not in someone's inbox. Learn more →
Not legal advice. This page is a plain-English summary of New Mexico §47-16-5 prepared by SoShiny for board members and managers. For binding legal advice or interpretation, consult a New Mexico-licensed attorney. For the official statutory text, see the link above.
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