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Maine Alliance for Road Associations

If you are both Statutory and a Non Profit Road Association do you file 2 financial statements

  • 18 Jul 2025 8:41 AM
    Quote
    Message # 13522202
    Anonymous member

    We are one year into our double identity as a dual road association.  The Treasurer just put out our financials in one statement.  If you are both, do you do this?  It's my opinion separate entities keep separate records.  I recall you don't need separate bank accounts.  Is that what your Association does?  Thanks to all who reply.  Our meeting is tomorrow.
  • 19 Jul 2025 7:48 AM
    Quote
    Reply # 13522517 on 13522202
    Anonymous member (Administrator)

    There are no requirements in the Statutes for filing financial statements by a statutory road association. I suggest complying with your non-profit corporation requirements, following statutory notification requirements, and remaining confident that you now have statutory capabilities in section 3104 to ensure enforcement of owner sharing of road maintenance expenses. 

    Last modified: 19 Jul 2025 7:51 AM | Anonymous member (Administrator)

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