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2003 SESSION

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HB 2216 Condominium Act; authority to levy additional assessments.

Introduced by: Terrie L. Suit | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Condominium Act; authority to levy additional assessments. Authorizes the executive organ to levy additional assessments if the executive organ determines that the assessments levied by the unit owners’ association are insufficient to cover the common expenses of the unit owners’ association. The bill provides for written notice of the imposition of an additional assessment and provides that the unit owners’ association may rescind or reduce the additional assessment. The bill is generally analogous to provisions in the Property Owners’ Association Act that authorize the board of directors to levy special assessments and the association to rescind or reduce the special assessment.


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