HB 5434 - Common Interest Ownership Act Summary

• Amends definitions and terminology in Connecticut's Common Interest Ownership Act to clarify provisions governing condominiums, cooperatives, and planned communities, effective July 1, 2010

• Modifies rules governing association enforcement actions, including executive board discretion to determine whether to pursue violations based on legal merit, materiality, and cost-benefit analysis without arbitrary or capricious treatment

• Updates procedures for adopting, amending, or repealing association rules to require at least 10 days' advance notice to unit owners with proposed rule text before executive board action

• Clarifies notice requirements and meeting procedures for unit owners, including reducing advance notice for executive board meetings from 10 to 5 days and allowing meetings by teleconference if unit owners can participate

• Revises construction defect claim procedures to require 45-day notice periods and consideration of remediation plans before associations can file lawsuits, with statute of limitations tolled during remediation periods

• Modifies restrictions on leasing residential units to require recording notice in town land records to be enforceable

• Updates resale certificate requirements to standardize fees capped at $125 plus copying costs and removes requirement to itemize printing and photocopying expenses