HB1647 - Relating To Condominiums.
Hawaii - 2024 Regular Session
Introduced byJackson Sayama, Mark M. Nakashima, Sean Quinlan
Last updated 8 months ago
3 Co-Sponsors
Requires boards of directors of condominium associations to deposit at least ten per cent of all revenues for each fiscal year, except for estimated replacement reserve assessments, into the total replacement reserves fund of the association. Requires the Real Estate Commission to enforce the minimum deposit requirement and allows unit owners to file complaints with the Commission. Holds board members who fail to comply with the minimum deposit requirement personally liable and subject to a fine.
STATUS
Introduced
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