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  • "Old Act" DC Corporations Under the New Act

    By: Eileen Morgan Johnson

    Takeaway:  DC nonprofit corporations formed prior to 1963 have a choice to remain under DC's old nonprofit corporation act or to come under the new act. If the entity wants clearer guidance on structure, then electing to come under the new act would be an appropriate decision.   But...

  • Legal Update and Summary of The New York Nonprofit Revitalization Act of 2013

    By: Jefferson C. Glassie, Dorothy Deng

    The New York State Legislature recently passed the Nonprofit Revitalization Act of 2013 (the “New Act”), which contains several amendments to the New York Not-For-Profit Corporation Law.  If signed by Governor Cuomo, provisions of the New Act will become effective July 1, 2014 and will apply...

  • Meetings Contracts

    By: Eileen Morgan Johnson

    This article was originally published in Association Trends. Every association holds meetings, whether a small board meeting or a convention for thousands.  Association executives responsible for meeting planning should be aware of some of the latest trends in negotiating hotel and convention...

  • Foreclosures by Community Associations in Delaware

    By: Chad J. Toms

    Under the Delaware Uniform Common Interest Ownership Act (“DUCIOA”), certain community associations are authorized to foreclose liens just like foreclosing a mortgage on real estate.  In Delaware, all mortgage foreclosures are by judicial process and typically take more than ten months to...

  • The D.C. Foreclosure Process

    By: Keisha A. Garner

    After the "Great Recession" that began in 2008, many individuals have fallen behind on their mortgage payments and/or condominium or homeowners assessments.  However, Boards of Directors have a fiduciary duty to their members to ensure the financial stability of their communities, so they may...

  • Lien Foreclosure in Maryland

    By: Roberto M. Montesinos, Tiffany M. Releford

    With assessment collections continuing to be problem for many community associations in Maryland, manager and board members alike are exploring alternative methods for collecting delinquent assessments. Here is a summary of the general process and timetable for the lien foreclosure procedure in...

  • Foreclosure Procedures in Virginia

    By: Thomas Mugavero

    There are two ways to foreclose on a condominium unit in Virginia; each has its own advantages and disadvantages. Lien

  • Severe Consequences for Franchisor Executives: Personal Liability and Non-dischargeable Debt

    By: David L. Cahn

    “Do not pass Go, do not collect $200” is a phrase we all remember from the childhood game Monopoly.  Like Monopoly, state franchise sales laws have rules and regulations that must be followed.  A franchisor’s failure to follow these basic procedural rules for selling franchises can result...

  • Another Court Ruling Shows Franchisors the Value of Providing an Item 19 FPR

    By: David L. Cahn

    Take-away:  Franchisors cannot rely on disclaimers in the contracts and FDD to protect against claims of providing false financial information.

  • SEC Adopts Final Rules Permitting "General Solicitation" In Rule 506 Offerings Made Exclusively to Accredited Investors and Disqualifying Felons and Other "Bad Actors" From Rule 506 Offerings

    SEC Adopts Final Rules Permitting “General Solicitation” In Rule 506 Offerings Made Exclusively to Accredited Investors and Disqualifying Felons and Other "Bad Actors" From Rule 506 Offerings SEC issues rule proposals to strengthen SEC oversight of Rule 506 offerings