Report Title:
Planned Community Associations; Financial Statements; Board Minutes
Description:
Requires association to make financial statements and association board meeting minutes available for members on a 24-hour loan basis and the latter to be transmitted to a requesting member within 15 days of receipt of request.
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
2653 |
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TWENTY-THIRD LEGISLATURE, 2006 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to planned community associations.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 421J-7, Hawaii Revised Statutes, is amended by amending subsections (a) and (b) to read as follows:
"(a) [Upon approval by the board, the] The most current financial statement of the association [and the minutes of the most recent meeting of the board of directors (other than minutes of executive sessions)] shall be made available for examination by any member at no cost, during reasonable hours, or on twenty-four-hour loan, at a location designated by the board.
(b) [The approved minutes of other meetings of the board, other than executive sessions, and the approved meetings of the association for the current and prior year, shall be made available for examination by members during reasonable hours at a location designated by the board. Copies of those meeting minutes shall be provided to any member upon the member's request if the member pays a reasonable fee for duplication, postage, stationery, and other administrative costs associated with handling the request.] The meeting minutes of the board of directors, once approved, for the current and prior year shall either:
(1) Be available for examination by members at no cost or on twenty-four-hour loan at a convenient location at the planned community, to be determined by the board of directors; or
(2) Be transmitted to any member making a request for the minutes, by the board of directors, the managing agent, or the association's representative, within fifteen days of receipt of the request; provided that the minutes shall be transmitted by mail, electronic mail transmission, or facsimile, by the means indicated by the member, if the member indicated a preference at the time of the request; and provided further that the member shall pay a reasonable fee for administrative costs associated with handling the request."
SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 3. This Act shall take effect upon its approval.
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INTRODUCED BY: |
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