HB 1115

Official digest

Amends the statute governing residential real estate sales disclosures to provide that in the case of a resale or refinance of property covered by the governing documents of a homeowners association (HOA), an HOA or an agent of the HOA providing a statement of unpaid assessments or other charges relating to a property may not charge more than $50 for the statement. (HEA 1152-2026 prohibits an HOA from charging a fee for the statement.) Provides that an HOA member is considered to be in attendance at a meeting of the HOA if the member attends by remote or virtual means in accordance with the statutory procedures for remote meetings of nonprofit corporations. Requires the board of an HOA to provide to HOA members at least four days advance written notice of any meeting of the board. Provides that the meeting notice must include: (1) a meeting agenda; and (2) in the case of a notice for an annual meeting, a statement of the right of HOA members to demand a special meeting of the members, including a statement of the required number of members needed to demand a special meeting. Amends the provision in HEA 1152-2026 that prohibits an HOA, an agent of an HOA, or an HOA management company from charging a homeowner a fee associated with any service provided by the HOA to specify that such services include services that are included in the homeowner's association assessment but do not include any optional service that is offered to a homeowner in connection with the homeowner's individual lot in the subdivision and that the homeowner opts to receive. Provides that a schedule of any optional services offered must be approved by the board and distributed to HOA members on at least an annual basis and whenever there is a change in the fees for any of the offered services. Prohibits an HOA, an agent of an HOA, or an HOA management company from charging a homeowner a fee associated with the production of a statement of account setting forth the amount of any unpaid assessments or other charges due and owing from the homeowner. Requires an HOA or its agent to maintain an account statement for a homeowner and provide the statement to the homeowner upon request. Provides that the governing documents of an HOA may not require that the consent of more than 2/3 of the owners be required to amend the HOA's governing documents. Provides that an HOA's governing documents may not require the consent of more than 2/3 of first lien mortgage holders in order to amend the governing documents. Removes the provision in current law that provides that the governing documents may require the approval of at least 95% of the owners to convey common areas or to dissolve the plan of governance for the HOA. Authorizes an HOA to assess a fine for a member's violation of a covenant if the HOA first: (1) adopts a schedule of fines for specified violations; and (2) provides to the member a notice setting forth the violation, the amount of the fine, and the date on which the fine will be assessed. Requires a schedule of fines to include a maximum aggregate fine amount for any single violation.