Report Title:
Condominium; Proxy Vote; Information Availability
Description:
Clarifies condominium laws related to proxy votes and information available to owners.
|
THE SENATE |
S.B. NO. |
499 |
|
TWENTY-FIFTH LEGISLATURE, 2009 |
|
|
|
STATE OF HAWAII |
|
|
|
|
|
|
|
|
||
|
|
||
A BILL FOR AN ACT
relating to condominiums.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The purpose of this Act is to clarify condominium laws related to proxy votes and information available to owners.
SECTION 2. Section 514B-123, Hawaii Revised Statutes, is amended by amending subsection (d) to read as follows:
"(d) A proxy, to be valid, shall:
(1) Be delivered to the secretary of the association or the managing agent, if any, no later than 4:30 p.m. on the second business day prior to the date of the meeting to which it pertains;
(2) Contain at least the name of the association, the date of the meeting of the association, the printed names and signatures of the persons giving the proxy, the unit numbers for which the proxy is given, the names of persons to whom the proxy is given, and the date that the proxy is given; and
(3) If it is a standard proxy form authorized by the association, contain boxes wherein the owner has indicated that the proxy is given:
(A) For quorum purposes only; or
(B) To the individual whose name is printed on a line
next to this box[;
(C) To the board as a whole and that the vote is to
be made on the basis of the preference of the majority of the directors present
at the meeting; or
(D) To those directors present at the meeting with
the vote to be shared with each director receiving an equal percentage].
The proxy form shall also contain a box wherein the owner may indicate that the owner wishes to obtain a copy of the annual audit report required by section 514B‑150."
SECTION 3. Section 514B-126, Hawaii Revised Statutes, is amended to read as follows:
"[[]§514B-126[]] Board
meetings; minutes. (a) Minutes of meetings of the board shall include the
recorded vote of each board member on all motions except motions voted on in
executive session.
(b) Minutes of meetings of the board shall be approved no later than the second succeeding regular meeting.
(c) Minutes of all meetings of the board shall
be available within seven calendar days after approval, and unapproved final
drafts of the minutes of a meeting shall be available within [sixty] seven
days after the meeting[; provided that the minutes of any executive session
may be withheld if their publication would defeat the lawful purpose of the
executive session].
(d) Minutes of each monthly meeting shall include all monthly financial statements and any owner delinquent more than ninety days and shall be accessible to an owner on the association's website."
SECTION 4. Section 514B-150, Hawaii Revised Statutes, is amended by amending subsection (b) to read as follows:
"(b) The board shall make available a copy of the annual audit to each unit owner at least thirty days prior to the annual meeting which follows the end of the fiscal year. The board shall not be required to submit a copy of the annual audit report to an owner if the proxy form issued pursuant to section 514B‑123(d) is not marked to indicate that the owner wishes to obtain a copy of the report. If the annual audit has not been completed by that date, the board shall make available:
(1) An unaudited year end financial statement for the fiscal year to each unit owner at least thirty days prior to the annual meeting; and
(2) The annual audit to all owners at the annual meeting,
or as soon as the audit is completed, but not later than six months after the
annual meeting[.], and shall address in detail receipts,
disbursements, expenditure of reserves, contracts executed within the year, and
any pending litigation."
SECTION 5. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 6. This Act shall take effect upon its approval.
|
INTRODUCED BY: |
_____________________________ |
|
|
|