Amends the Common Interest Community Association Act and the Condominium Property Act to enhance transparency and governance.
The bill amends the Common Interest Community Association Act and the Condominium Property Act to enhance transparency and governance within common interest communities and condominiums. It mandates that the board of directors provide a website with information on meetings, agendas, and minutes. It requires quarterly financial statements to be sent electronically to unit owners. The bill also stipulates that any fee increase over 10% must be approved by 75% of unit owners.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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