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1998 SESSION

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HB 506 Property owners and condominium associations.

Introduced by: Vivian E. Watts | all patrons    ...    notes | add to my profiles

SUMMARY:

Property Owners' Association; annual report. Clarifies the uses of the Common Interest Community Management Information Fund and requires the Real Estate Board to survey those associations which contribute to this Fund. In addition the bill provides that whenever the unobligated balance of the fund exceeds 25 percent of the total amount of fixed fees which were due for the previous year, the Board shall reduce the amount of the fixed fee for the next year.


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