Not unless they engage in acts classified as real estate brokerage (sales or rental of real estate for others) or time share development. If they do, they must be licensed by the North Carolina Real Estate Commission. Although the Commission cannot referee disputes between an association and its members, it has disciplined its licensees for failing to deliver the Subdivision Street Disclosure Statement, selling lots in unapproved subdivisions, misrepresenting material facts in a transaction, and other violations of the Real Estate License Law. The Consumer Protection Section of the North Carolina Attorney General’s Office also has power to act against legal entities engaged in certain unlawful practices (Phone: 919.716.6000).