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Does our Association insurance cover winter damage to our parapet wall?

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Q.  This past winter was particularly damaging to the parapet walls on the roof of our building.  We are looking at a large expense to rebuild at least one of the walls.  Is any of this damage covered by our Association insurance policy?

Must a collection policy be approved at a Board meeting?

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Q. My condo Board has approved a $25.00 late fee for payments received after the 5th of the month.  Apparently, this policy was decided via email.  Does the Board need to vote on a late fee at a Board meeting?{mprestriction ids="1,2,3"}

Does my Association allow leasing?

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Q:  How do I find out if my Association allows rentals?

What happens if the bank forecloses while the Association has possession?

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Q: What happens if the bank forecloses on a property while the Association has possession?  Are the tenants automatically evicted?  Can the Association retain possession until all delinquent amounts are collected?