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CT HB05265
Bill
Status
2/19/2026
Primary Sponsor
Insurance and Real Estate Committee
Click for details
AI Summary
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Unit owners holding at least 20% of association votes may petition Superior Court to order an independent third-party audit of the association's financial records, provided they obtain a signed opinion from a CPA specializing in fraud or forensics indicating evidence of financial fraud or fund misuse
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Petitioning unit owners must pay all audit expenses, and associations or community managers may charge reasonable fees for providing records to auditors; associations may also recover reasonable attorney's fees
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Property disclosure forms for common interest community sales must include a new special statement advising buyers of communities with more than 12 units to obtain a Resale Certificate and request a reserve funds report
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Lender questionnaire preparation and recordation fees are capped at $100 maximum
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Effective date: October 1, 2026
Legislative Description
An Act Concerning Court-ordered Accountings Of Common Interest Community Financial Records, Lender Questionnaires And Revising The Disclosure Requirements Relating To Common Interest Communities.
Last Action
Filed with Legislative Commissioners' Office
3/12/2026