Jefferson County HOA sues management company and bank
BIRMINGHAM, Ala. (WBRC) - A Jefferson County Homeowners Association is suing its management company, and the bank that held its money.
A lawsuit filed by the Black Creek Station Subdivision alleges that Rouland Management Services (RMS), its owner, and an employee, mismanaged and even stole HOA dollars that were entrusted to it.
The lawsuit also names Union Bank as a defendant.
Attorneys representing the subdivision tell WBRC that RMS placed the HOA money into an account with Union Bank, and that the bank didn’t stop suspicious activity as required by law.
The lawsuit was filed as a class action, but currently only Black Creek Station is part of it.
Attorneys representing Black Creek Station say the HOA couldn’t access the Union Bank account where its funds were held because RMS was the only authorized user, and doesn’t know how much money may have been lost yet.
“I think one of the keys is to make sure that your HOA board has access to that bank account, and is authorized to sign on that so that the board members can get accurate financial statements from the bank, accurate account information, and to have direct access to the money,” says attorney Nicholas Hughes.
Neither RMS nor Union Bank have filed a response to the lawsuit.
The Argo Hughes Law firm out of Huntsville, and Aughtman Law Firm out of Montgomery are representing the HOA.
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