BILL · 2007–08 SESSION

SB 6215: Condominium associations

Concerning reserve accounts and studies for condominium associations.

Summary

  • Requires a residential condominium association, unless doing so would impose an unreasonable hardship, to: (1) prepare an initial reserve study based upon a visual site inspection conducted by a reserve study professional; (2) update the study annually; and (3) arrange for a visual site inspection every three years by a reserve study professional.
  • Encourages, but does not require, a residential condominium association to establish a reserve account, supplemental to the association's annual operating budget, to fund major maintenance, repair, and replacement of common elements.
  • Requires a condominium public offering statement or resale certificate to include: (1) a copy of the current reserve study, or (2) a disclosure to the potential buyer stating that the association does not have a reserve study.

From the House Bill Report (SB 6215), written by the Legislature's nonpartisan staff. Read the full report ↗

Enacted Enacted · Chapter 115, Laws of 2008
  1. IntroducedJan 14, 2008
  2. Out of committeeJan 21, 2008
  3. Passed SenateFeb 11, 2008
  4. Passed HouseMar 4, 2008
  5. GovernorMar 21, 2008
  6. LawMar 21, 2008
Prime sponsor
Rodney Tom (D-48)
Introduced
January 14, 2008 in the Senate
Last action
March 21, 2008
Session law
Chapter 115, Laws of 2008
Companion bill
HB 2541

AN ACT Relating to reserve accounts and studies for condominium associations;

Sponsors

Prime sponsor: Rodney Tom (D-48)

2 co-sponsors (0 Democrats, 2 Republicans)

Votes

Senate · 3rd Reading & Final Passage

Passed February 11, 2008
Version voted on: SB 6215
45 Yea 2 Nay 0 Absent 2 Excused
PartyYeaNayAbsentExcused
Democrat31001
Republican14201
How each member voted

House · Final Passage as Amended by the House

Passed March 4, 2008
Version voted on: SB 6215
92 Yea 2 Nay 0 Absent 4 Excused
PartyYeaNayAbsentExcused
Democrat60102
Republican32102
How each member voted

Yea (92)

Nay (2)

Senate · Final Passage as Amended by the House

Passed March 8, 2008
Version voted on: SB 6215
43 Yea 3 Nay 0 Absent 3 Excused
PartyYeaNayAbsentExcused
Democrat29003
Republican14300
How each member voted

History

  1. Effective date 6/12/2008.
  2. Chapter 115, 2008 Laws.
  3. Governor signed.
  4. Delivered to Governor.
  5. Speaker signed.
  6. President signed.
  7. Passed final passage; yeas, 43; nays, 3; absent, 0; excused, 3.
  8. Senate concurred in House amendments.
  9. Third reading, passed; yeas, 92; nays, 2; absent, 0; excused, 4.
  10. Rules suspended. Placed on Third Reading.
  11. Committee amendment adopted with no other amendments.
  12. Rules Committee relieved of further consideration. Placed on second reading.
  13. Passed to Rules Committee for second reading.
  14. JUDI - Executive action taken by committee.
  15. JUDI - Majority; do pass with amendment(s).
  16. First reading, referred to Judiciary.
  17. Third reading, passed; yeas, 45; nays, 2; absent, 0; excused, 2.
  18. Rules suspended. Placed on Third Reading.
  19. Placed on second reading by Rules Committee.
  20. CPH - Majority; do pass.
  21. Passed to Rules Committee for second reading.
  22. First reading, referred to Consumer Protection & Housing.
  23. Prefiled for introduction.

SB 6215 in other sessions

Bill numbers restart every two years, so the same number is a different bill in each session.

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