CS for CS for SB 1466 Summary

• Expands the definition of "community association management" to include numerous specific duties such as determining statutory notice periods, calculating amounts due, preparing certificates of assessment, drafting notices and agendas, and negotiating contract terms.

• Creates liability for community association managers and management firms equivalent to officers or directors when they breach duties involving criminal violations, improper personal benefit, or reckless/bad faith conduct.

• Allows associations to recover reasonable collection charges from unit owners under written contracts with management companies, bookkeeping services, or collection agents for delinquent assessments.

• Establishes specific statutory forms for lien releases, preliminary lien notices, and preforeclosure notices for condominiums, cooperatives, and homeowners associations.

• Removes the 1-year lien expiration provision for cooperative assessments and standardizes lien enforcement procedures across different community association types, including 30-45 day notice periods before foreclosure.