N.C. Gen. Stat. » Chapter 47A
NC General Statutes

N.C. Gen. Stat. § 47A-20 (2026)

Records of receipts and expenditures; availability for examination; annual audit

✓ current as of July 2026
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The manager or board of directors, or other form of administration provided in the bylaws, as the case may be, shall keep detailed, accurate records in chronological order of the receipts and  expenditures affecting the common areas and facilities, specifying and identifying the maintenance and repair expenses of the common areas and facilities and any other expense incurred. Both said book and the vouchers accrediting the entries thereupon shall be available for examination by all the unit owners, their duly authorized agents or attorneys, at convenient hours on working days that shall be set and announced for general knowledge. All books and records shall be kept in accordance with good and accepted accounting practices and an outside audit shall be made at least once a year. (1963, c. 685, s. 20.)

 

Notes of Decisions
Cited in 2 cases (1 in the last 5 years), 1991–2025 · leading case: Port Trinitie Homeowners Ass'n v. Port Trinitie Ass'n, 2025 NCBC 43 (N.C. Bus. Ct. 2025).
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Port Trinitie Homeowners Ass'n v. Port Trinitie Ass'n, 2025 NCBC 43 (N.C. Bus. Ct. 2025). · cites it 7× “N.C.G.S. § 47A-20 (emphasis added). 32. Plaintiffs specifically allege that Defendants violated Section 47A-20 by “fail[ing] to provide [Homeowners’ Association] members with financial records upon request .”
Edelstein v. Pinnacle Inn & Country Club Condo. Owners' Ass'n, 403 S.E.2d 927 (N.C. Ct. App. 1991). · cites it 3× “The defendant appeals from an order filed 12 March 1990 wherein the trial court ruled that the defendant had not complied with N.C.G.S. § 47A-20 (1984). We do not reach the merits of this appeal.”
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