Requires planned community associations to maintain financial statements and other financial information at a convenient location for examination by any member for the duration that those statements and information are kept by the association. (SD1)

A BILL FOR AN ACT

SECTION 1. Section 421J-7, Hawaii Revised Statutes, is amended by amending subsection (c) to read as follows:

"(c) Financial statements, general ledgers, accounts receivable ledgers, accounts payable ledgers, check ledgers, insurance policies, contracts, invoices of the association for the [current and prior year,] duration those records are kept by the association and any documents regarding delinquencies of ninety days or more, shall be made available for examination by members at reasonable hours at a location designated by the board; provided that members shall pay for all costs associated with the examination of documents. The board may require members to furnish the association with an affidavit stating that the foregoing information is requested in good faith for the protection of the interests of the association, its members, or both. Copies of these documents 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."

SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 3. This Act shall take effect on July 1, 2050.