Your question actually must be analyzed in more than one part. First, do the covenants running with the land that create the POA continue to burden the lots subjected to it. The answer is yes, unless there are changed circumstances or the owners of the lots act to remove the covenants. Second, does the POA corporation continue to exist. The corporation will be terminated in most states if the necessary annual reports are not filed and the required fees are not paid. However, the corporate entity can be reinstated for some time, after which a new entity could be formed to enforce the covenants. If the POA entity is in good standing, the Board of Directors can impose dues or assessments going forward or institute and enforce restrictions if properly enacted and implemented. There may be some valid defenses by some of the owners, but those will have to be evaluated on a case-by-case basis.
