HB 137 - Alabama Homeowners' Association Act

• Declarants must provide the association board with financial records, books, insurance policies, warranties, contracts, and development information within 60 days of initial board selection.

• Associations must maintain detailed financial records following generally accepted accounting practices and make them available to members for inspection with proper notice, subject to specific exemptions for personnel, litigation, and legal communications.

• Board meetings must be open to all members with advance notice (14 days for annual meetings, 7 days for other meetings), recorded minutes, and members may record open sessions; executive sessions allowed only for specified topics with affirmative vote.

• Associations may assess penalties up to $5,000 per violation and suspend member facility use for nonpayment of assessments over 60 days past due, with member right to hearing and representation before penalty imposition.

• Associations must register annually with the Alabama Real Estate Commission; unregistered associations cannot enforce liens or pursue certain actions for unpaid assessments; liens on lots for unpaid assessments are prior to most other liens except property taxes and pre-recorded mortgages.