In classifying which operations are essential and nonessential, associations should consider the effects this will have on their finances. The timeline of this pandemic is unpredictable and associations should take proactive measures to preserve stability. Associations have various options from which they may choose when deciding how to preserve financial stability. Some, like suspending collection of past due accounts, are drastic and generally not advisable because of their unintended consequences. An individualized approach crafted with the assistance of legal counsel is the best way to preserve stability and honor the association’s legal obligations.
How Will This Pandemic Affect Association Finances?
More Insights
-
DBL Law’s Made It Series – Chef David Falk & Paul Weckman
The Made It Series is now a podcast—real stories from the chefs, creators, and community builders shaping our neighborhoods and chasing the work they love.…
-
DBL Law Welcomes Former Judge Russell J. Mock to Cincinnati Office
DBL Law is pleased to announce that Russell J. Mock, a seasoned attorney with nearly three decades of legal experience, has joined the firm’s Cincinnati…
-
In Memoriam: Pat Crowley, A Beloved Friend and Colleague
It is with deep sadness that DBL Law mourns the sudden passing of long-time friend and esteemed colleague, Pat Crowley. A respected journalist turned public…
Subscribe To Our Legal Insights
By submitting this form, you are consenting to receive marketing emails from DBL Law. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email.