New Jersey S4157 mandates training for board members of planned real estate development associations.

New Jersey S4157 requires the Commissioner of Community Affairs to establish a training program for board members of planned real estate development associations. The program must include at least three hours of training, covering good business practices, record keeping, legal requirements, budgeting, and reserve accounts. Board members must complete the training within 180 days of their term beginning. The commissioner has the authority to remove board members who fail to complete the training. This applies to the first term of office following the bill's enactment.

New Jersey S4157 mandates training for board members of planned real estate development associations.

New Jersey S4157 requires the Commissioner of Community Affairs to establish a training program for board members of planned real estate development associations. The program must include at least three hours of training, covering good business practices, record keeping, legal requirements, budgeting, and reserve accounts. Board members must complete the training within 180 days of their term beginning. The commissioner has the authority to remove board members who fail to complete the training. This applies to the first term of office following the bill's enactment.