Info Bytes 01.27.22
CIC Info Bytes are frequent, succinct updates that provide educational and engagement opportunities to help your community thrive!
CAI Exchange Topics
Reserve Investing - Can CICs invest in US Government debt if their governing documents require FDIC insurance coverage (available up to $250,000 per financial institution (including CDs invested at unique institutions)???
Both FDIC insurance AND US Government debt (Treasury Bills / Bonds / Notes) are backed by the same source (the full faith and credit of the United States Government), The intent? Guaranteed return of principal.
Some statutes require "income earning" accounts
Two reserve investing resources published on the Reserves Page
Anonymous Complaints and Due Process - A zinger! A few tidbits you might enjoy:
Anonymous complaints that cannot be readily substantiated should not be addressed by an association. These are often "neighbor to neighbor" disputes.
In WA State, CIC record-keeping, disclosure and due process statutory requirements = complainants cannot remain confidential. There is generally no basis for a violation hearing where the accused is not entitled to know their accuser and/or obtain information via a records request
Surveillance - Someone's watching...
Cameras in common areas
Third-party surveillance monitoring
Want an example? See Page 5 of our example rules
Scenic view of the Banhoek Valley near Stellenbosch, South Africa
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