Mutual Water Companies
The Law Offices of Stephen M. Flynn has created a niche practice of advising mutual water companies with respect to entity formation, corporate governance and management, tax issues and regulatory compliance.
Typically, our role is three-fold. First, we review the existing entity documents and make any necessary and recommended changes to the governing documents to (i) ensure they are compliant with California law, and (ii) include non-mandatory but recommended provisions for the benefit of the board members, officers and members of the association or company.
Second, we educate the board members and the officers with respect to the proper management and governance of a mutual water company or a homeowner's association. This education includes the rights and obligations of the board and the officers, corporate governance issues (such as fiduciary duties), the delegations of powers within the association or company, the procedures for holding meetings, electing board members and officers, levying and collecting assessments, and other internal issues.
Third, we advise the board members and the officers with respect state and federal regulatory issues pertaining to homeowner's associations and mutual water companies. In the case of homeowner's associations, this includes Davis-Stirling, the statutory scheme in California governing homeowner's associations. In the case of mutual water companies, this includes the California Mutual Benefit Corporation Law as well as other federal and California statutes and regulations specifically governing mutual water companies. Together we will develop "best practices" for your association or company to adopt.
When all is said and done, your governing documents will be up to date, you will know how to operate a mutual water company or homeowner's association, and you will learn how to comply with the regulations governing your company or association.
Typically, our role is three-fold. First, we review the existing entity documents and make any necessary and recommended changes to the governing documents to (i) ensure they are compliant with California law, and (ii) include non-mandatory but recommended provisions for the benefit of the board members, officers and members of the association or company.
Second, we educate the board members and the officers with respect to the proper management and governance of a mutual water company or a homeowner's association. This education includes the rights and obligations of the board and the officers, corporate governance issues (such as fiduciary duties), the delegations of powers within the association or company, the procedures for holding meetings, electing board members and officers, levying and collecting assessments, and other internal issues.
Third, we advise the board members and the officers with respect state and federal regulatory issues pertaining to homeowner's associations and mutual water companies. In the case of homeowner's associations, this includes Davis-Stirling, the statutory scheme in California governing homeowner's associations. In the case of mutual water companies, this includes the California Mutual Benefit Corporation Law as well as other federal and California statutes and regulations specifically governing mutual water companies. Together we will develop "best practices" for your association or company to adopt.
When all is said and done, your governing documents will be up to date, you will know how to operate a mutual water company or homeowner's association, and you will learn how to comply with the regulations governing your company or association.