Arizona HB2277 amends fiscal duties for condominium associations.

Arizona HB2277 amends several sections of Arizona Revised Statutes related to condominiums and planned communities. The bill revises the fiscal duties of condominium associations, including the management of surplus monies, the approval of annual budgets, and the establishment of reserve accounts. It also modifies the declaration requirements for condominiums, ensuring that the declaration includes specific details about the property and its units. Additionally, the bill addresses the removal of board members and the ratification of special assessments and financing by unit owners.

Arizona HB2277 amends fiscal duties for condominium associations.

Arizona HB2277 amends several sections of Arizona Revised Statutes related to condominiums and planned communities. The bill revises the fiscal duties of condominium associations, including the management of surplus monies, the approval of annual budgets, and the establishment of reserve accounts. It also modifies the declaration requirements for condominiums, ensuring that the declaration includes specific details about the property and its units. Additionally, the bill addresses the removal of board members and the ratification of special assessments and financing by unit owners.