What information must be disclosed in the sales contract if membership in the association is required?

The correct answer revolves around the necessity for transparency regarding the obligations of homeowners when membership in an association is mandated. It's essential to highlight that if membership in an association is required, the sales contract must indicate that homeowners have an obligation to attend meetings.

This is significant because participation in meetings is often a part of the responsibilities that homeowners agree to when they join an association. By disclosing this information in the sales contract, prospective buyers are made aware of their commitments as members of the association, which can influence their decision-making process regarding the purchase of the property.

The other options, while relevant to homeowner associations, do not capture the specific requirement for disclosure in the sales contract regarding attendance obligations. Knowledge of voting rights, the potential inability to sell without approval, and insurance requirements are important but do not specifically pertain to the mandatory attendance at meetings that prospective homeowners need to understand from the outset.