Report Title:
Association of Apartment Owners; Documents
Description:
Clarifies that contracts entered into between the association of apartment owners and a managing agent or property management company, are to be made available for examination by apartment owners with a duly executed affidavit.
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THE SENATE |
S.B. NO. |
1344 |
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TWENTY-THIRD LEGISLATURE, 2005 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to association of apartment owners.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The legislature finds that certain documents of the association of apartment owners should be available to apartment owners. These documents include any and all contracts of the association, including those contracts entered into between the association and the managing agent or property management company.
SECTION 2. Section 514A-83.5, Hawaii Revised Statutes, is amended by amending subsection (c) to read as follows:
"(c) Financial statements, general ledgers, the accounts receivable ledger, accounts payable ledgers, check ledgers, insurance policies, contracts, including but not limited to the contract entered into between the association and a managing agent or property management company, and invoices of the association of apartment owners for the current and prior year and delinquencies of ninety days or more shall be available for examination by apartment owners at convenient hours at a place designated by the board; provided[:] that:
(1) [That the] The board may require owners to furnish to the association a duly executed and acknowledged affidavit stating that the information is requested in good faith for the protection of the interests of the association or its members or both; [and]
(2) When requesting to review a contract between an association and a managing agent or property management company, the association board shall require owners to furnish a duly executed and acknowledged affidavit under paragraph (1); and
[(2) That owners] (3) Owners pay for administrative costs in excess of eight hours per year[.];
Copies of these items shall be provided to any owner upon the owner's request, provided that the owner pay a reasonable fee for duplicating, postage, stationery, and other administrative costs associated with handling the request. As used in this subsection, "contracts" includes but is not limited to the contract entered into between the association or its board of directors and the managing agent or property management company."
SECTION 3. Act 164, Session Laws of Hawaii 2004, is amended by amending section -154(c) of section 2 to read as follows:
"(c) Financial statements, general ledgers, the accounts receivable ledger, accounts payable ledgers, check ledgers, insurance policies, contracts, including but not limited to the contract entered into between the association and a managing agent or property management company, and invoices of the association for the current and prior year and delinquencies of ninety days or more shall be available for examination by unit owners at convenient hours at a place designated by the board; provided that:
(1) The board may require owners to furnish to the association a duly executed and acknowledged affidavit stating that the information is requested in good faith for the protection of the interests of the association or its members or both; [and]
(2) When requesting to review a contract between an association and a managing agent or property management company, the association board shall require owners to furnish a duly executed and acknowledged affidavit under paragraph (1); and
[(2)] (3) Owners shall pay for administrative costs in excess of eight hours per year.
Copies of these items shall be provided to any owner upon the owner's request, provided that the owner pays a reasonable fee for duplicating, postage, stationery, and other administrative costs associated with handling the request. As used in this subsection, "contracts" includes but is not limited to the contract entered into between the association or its board of directors and the managing agent or property management company."
SECTION 4. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 5. This Act shall take effect on July 1, 2005.
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INTRODUCED BY: |
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