H7855

Rhode Island H7855 defines a special assessment as an assessment not included in the condominium association budget, applicable to condominiums.

Rhode Island H7855 amends the state's Condominium Law by defining a special assessment as an assessment that is not part of the condominium association budget. This definition applies to condominiums created before July 1, 1982, but only for events and circumstances occurring after that date. The bill does not invalidate existing provisions of the declaration, bylaws, plats, or plans of those condominiums. It also clarifies that certain sections of the law apply to all condominiums created in the state before July 1, 1982, for events and circumstances occurring after that date.