What is a key function of the articles of incorporation?

The correct choice emphasizes the primary role of the articles of incorporation, which is to legally establish the corporation that manages the community. These articles serve as the foundational document for the corporation, defining its existence, purpose, structure, and governance. By filing the articles of incorporation with the appropriate state authority, the community association is formally recognized as a legal entity. This designation allows it to enter into contracts, own property, and operate under its own name, providing a framework for managing the affairs of the community effectively.

The other options, while relevant to the functioning of a community association, do not capture the essential purpose of the articles of incorporation. A financial summary would be part of financial reporting but not the establishment of the corporation. The responsibilities of individual unit owners are typically laid out in bylaws or community rules rather than the articles of incorporation. Setting an agenda for annual meetings is also an operational matter, usually governed by the board of directors or management, not defined by the articles themselves. Therefore, the correct choice reflects the fundamental legal role of the articles of incorporation in creating the community association as a recognized corporate entity.