HB 2807 Summary

• Removes the January 1, 2020 effective date requirement for associations to provide statements of account, making this requirement permanent for condominiums and planned communities with 50 or more units or that contract with third-party management services.

• Allows unit owners and members to opt out of receiving statements of account by notifying the association, with electronic delivery available as an option.

• Clarifies that associations may stop providing statements of account once collection activity begins through an attorney or third-party collection agency, but the collecting entity must provide statements upon written request.

• Makes identical amendments to both Section 33-1256 (condominiums) and Section 33-1807 (planned communities) to ensure consistent requirements across both housing types.

• Changes archaic language from "prior to" to "before" in lien priority provisions and removes strikethrough text related to "of" in recording language.