Brokers Managing HOAs or POAs


A broker managing a Homeowner/Property Owners Association (HOA/POA) for compensation must be active, be a BIC or affiliated with a BIC, and must follow rule A.0118 & all trust account rules with respect to HOA/POA funds held on behalf of the HOA/POA.   The only exception is for a broker who acts without compensation for an HOA/POA in which the broker is a property owner.