HI SB3127

Requires condominium associations unable to obtain a quorum at the first annual meeting to continue the meeting at least once within ninety days, or the board must call a continuation within ninety days if the association does not.

Reduces the quorum requirement at continued annual meetings to one-half of the requirement stated in the bylaws.

Grants the board authority to employ and terminate a managing agent, subject to approval by majority vote of unit owners at an association meeting.

Limits managing agent contracts to no more than three months following termination, after which the board must employ a different managing agent.

Exempts condominium projects where a majority of units are submitted to vacation plans or time share plans established by the developer from the managing agent employment and termination provisions.