How Long Must Condo Records Be Kept?

M.B. from Hartford County, Connecticut writes:

Dear Mister Condo,

How long do you hold financial reports and minutes of meetings?

Mister Condo replies:

M.B., there has been much debate on how much and how long various condominium association records should be kept. In a perfect situation, minutes from every meeting and all financial reports would be kept indefinitely. Realistically, that isn’t likely to happen due to the nature of change amongst Board members, management company personnel, residents, etc.. However, in Connecticut, three years is the requirement for all financial records and one year is the requirement for all minutes of meetings. All the best!