AN ACT RELATIVE TO THE REVIEW OF CERTAIN CONDOMINIUM FINANCIAL REPORTS.
Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
Subsection (d) of section 10 of chapter 183A of the
General Laws, as
appearing in the 1998 Official Edition, is hereby amended by striking out the
paragraph and inserting in place thereof the following paragraph:-
An independent certified public accountant shall conduct according to the
standards of the American Institute of Certified Public Accountants, a review
the financial report for any condominium comprising 50 or more units. Such
review shall be conducted annually, or less frequently
accordance with subsection (m), but in no case less frequently than every two
years. In any
action brought to enforce the provisions of this paragraph, the prevailing
party shall be entitled to reasonable attorneys' fees incurred in such action.
Said section 10 of said chapter 183A, as so appearing,
is hereby further amended by inserting
after the word "subsection (d)", in line 239, the following
words:- , but such
review shall be performed not less frequently than every two years as provided
said subsection (d).