HI HB275

Establishes that if a condominium association cannot obtain a quorum at the first annual meeting of the year, the association must continue the meeting within 90 days, or the board must call a continuation within 90 days if the association fails to do so.

Reduces the quorum requirement at a continued annual meeting 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 a majority vote of unit owners at an association meeting.

Requires that if a managing agent is terminated, the contract continues for no more than three months and the board must employ a different managing agent.

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