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2018 SESSION

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HB 1031 Common interest communities; disclosure packets.

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

SUMMARY AS PASSED HOUSE:

Common interest communities; disclosure packets. Requires that as a prerequisite to charging any fees for the preparation of disclosure packets, both professionally managed property owners' associations and property owners' associations that are not professionally managed must register with the Common Interest Community Board, file annual reports, and make annual assessment payments. Additionally, a professionally managed property owners' association must provide the disclosure packet electronically if so requested by the requester in order to charge fees. The bill allows a property owners' association that is not professionally managed to charge fees at the option of the seller or the seller's agent for (i) expediting the inspection, preparation, and delivery of the disclosure packet; (ii) providing an additional hard copy of the disclosure packet; and (iii) providing third-party commercial delivery service. A property owners' association that is not professionally managed may also charge and collect fees for inspection of the property, the preparation and issuance of an association disclosure packet, and such other services as provided by professionally managed property owners' associations as long as the association provides the disclosure packet electronically if so requested by the requester and complies with the other requirements of collecting fees for disclosure packets by professionally managed property owners' associations.

SUMMARY AS INTRODUCED:

Common interest communities; disclosure packets. Clarifies that no property owners' association that is not professionally managed is required to provide electronic delivery of the disclosure packet if such an option is not available but must notify the seller or the seller's authorized agent that such option is not available upon receiving such request. The bill allows a property owners' association that is not professionally managed to charge fees at the option of the seller or the seller's agent for (i) expediting the inspection, preparation, and delivery of the disclosure packet; (ii) providing an additional hard copy of the disclosure packet; and (iii) providing third-party commercial delivery service. The bill provides that an association that is not professionally managed that acts as a professionally managed association for the purposes of receiving higher fees shall have the responsibilities and liabilities of a professionally managed association and shall collect fees that can be charged by a professionally managed association, provided that the association that is not professionally managed does not use any person who is not a common interest community manager to provide services to the association for compensation for the preparation and issuance of the disclosure packet. The bill also requires that as a prerequisite to charging any fees for the preparation of disclosure packets a property owners' association must register with the Common Interest Community Board, file annual reports, and make annual assessment payments.