HI SB392

Clarifies that if a standard proxy form authorized by a condominium association is returned with no box checked or more than one box checked, the proxy shall be counted for quorum purposes only.

Requires standard proxy forms to contain boxes allowing owners to indicate how their proxy is given: for quorum only, to a named individual, to the board as a whole, or to directors present at the meeting with equal vote sharing.

Requires standard proxy forms to include a box where owners may indicate they wish to receive a copy of the annual audit report.

Amends section 514B-150 to reference the updated proxy form requirements regarding distribution of annual audit reports to unit owners.

Takes effect on July 1, 2090.