Hawaii SB253 amends condominium reserve laws to exclude good faith defense for boards omitting budget summaries and clarifies unit owners' standing.

Hawaii SB253 amends existing condominium laws to enhance transparency and accountability regarding reserve studies and budgets. The bill excludes the good faith defense for associations whose boards omit a required detailed budget summary. It also clarifies that unit owners have standing to enforce compliance if the association board fails to comply with the law. The board must prove compliance if violations are alleged. The changes aim to better inform owners of the financial condition of their associations.

Hawaii SB253 amends condominium reserve laws to exclude good faith defense for boards omitting budget summaries and clarifies unit owners' standing.

Hawaii SB253 amends existing condominium laws to enhance transparency and accountability regarding reserve studies and budgets. The bill excludes the good faith defense for associations whose boards omit a required detailed budget summary. It also clarifies that unit owners have standing to enforce compliance if the association board fails to comply with the law. The board must prove compliance if violations are alleged. The changes aim to better inform owners of the financial condition of their associations.