Amends and adds to existing law to revise provisions regarding definitions and fee and financial disclosures and to establish provisions to provide for a period of declarant control, restrictions on board membership, and proxy votes.
HOMEOWNER'S ASSOCIATIONS -- Amends and adds to existing law to revise provisions regarding definitions and fee and financial disclosures and to establish provisions to provide for a period of declarant control, restrictions on board membership, and proxy votes.
STATEMENT OF PURPOSE
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This legislation clarifies definitions of Homeowners Associations, (HOA). It gives the homeowners of the development where they reside representation on an HOA board on or before 180 days after 75% of the lots are conveyed to the homeowner. It also outlines the complete transfer of the HOA within 12 months to the homeowner after 95% is built and occupied and addresses proxy votes.
FISCAL NOTE
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This legislation causes no additional expenditure of funds at the state or local level of government, nor does it cause an increase or decrease in revenue for state or local government, therefore the legislation has no fiscal impact.
HOW THEY VOTED
House Third Reading
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YEA (66)
NAY (0)
ABSENT / NOT VOTING (4)
Senate Third Reading
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YEA (35)
NAY (0)
LATEST ACTION
Reported Signed by Governor on March 28, 2025 Session Law Chapter 204 Effective: 07/01/2025
BILL INFO
- Session
- 2025
- Chamber
- house
- Status date
- Mar 31, 2025
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