CONDO CI ASSN-DISCLSOURE INFO

From the Legislature

Amends the Common Interest Community Association Act and the Condominium Property Act. Requires the board of directors to provide a website that unit owners can access on the Internet that includes information about board and association meetings, agendas, and minutes of the last meeting. Requires that the board must transmit quarterly to the members electronically via email a statement of the association's financial data, to include, but not be limited to, receipts, expenses, invoices, contracts, and obligations. Requires any fee increase of any kind that is more than 10% must be approved by 75% of the unit owners notwithstanding any other provision in this Act or in the association's instruments.