SECTION 1. There shall be a special commission established to study condominium law, relative to: owner’s rights, association and management responsibilities to owners, independent audits of accounts held for improvements, upgrades, and maintenance, oversight authority for the development of regulations by an appropriate state office or agency, and any other matters relevant to this subject. This special sub-committee shall meet and may hold hearings and invite testimony from experts and the public to help generate a report to the House and Senate no later than January 1, 2011 which shall proffer recommendations to establish future condominium regulations and statute. The committee shall consist of seven members, two each appointed by the Speaker of the House and the Senate President and three appointed by the Governor, one of whom shall be the Chair, and must include at least the following individuals:
An attorney (1) who specializes in condominium law and whose client base is comprised mostly (over 51%) of condo unit owners, unit owner groups or aggrieved unit owners and whose client base is not comprised mostly of Property Management companies and/or condo Boards of Trustees.
An individual condo unit owners who are not members of their Board of Trustees
A Certified Property Manager who possess either the PCAM, CMCA and/or the AMS designation. (Legislators or legislative aides) who can review with the committee laws that were successfully passed in other states to determine if we can utilize similar statutes.
Areas that shall be explored by the committee and for which subsequent recommendations should be developed include (but are not limited to):
Board of Trustee meetings, including the procedures and elections thereto;
Unit Owner’s rights and enforcement
Association and management responsibilities to owners
Independent audits of accounts held for improvements, upgrades, and maintenance
Distribution of information, documents and meeting minutes by the Management company or Board members, to unit owners
How condo fees are determined and are increased
Oversight authority for the development of regulations by an appropriate state office or agency
Formal process to mediate/resolve Unit Owner and Board disputes
Rules and Regulations
Fees, fines and assessments
Any other matters relevant to this subject
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