North Carolina § 47A-20 - Records of receipts and expenditures; availability for examination; annual audit.
Full text of North Carolina North Carolina General Statutes § 47A-20 — Records of receipts and expenditures; availability for examination; annual audit., with citation guidance and answers to common questions.
§ 47A-20. Records of receipts and expenditures; availability for examination; annual audit.
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. History (1963, c. 685, s. 20.)
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 47A-20
What does North Carolina General Statutes § 47A-20 cover?
Section 47A-20 ("Records of receipts and expenditures; availability for examination; annual audit.") is part of the North Carolina General Statutes, the codified statutory law of North Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite North Carolina § 47A-20?
A common citation format is "North Carolina General Statutes § 47A-20" (North Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of North Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Carolina official source linked on this page or consult a licensed North Carolina attorney.
How does North Carolina § 47A-20 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in North Carolina.