HI SB2625

Requires condominium association directors and officers to disclose any activities that may reasonably be construed as conflicts of interest and either cease the activity or withdraw from office.

Prohibits attorneys from simultaneously representing both the association board and the managing agent retained by the association.

Prohibits board members and managing agents from purchasing units at foreclosure sales resulting from the association's lien for unpaid assessments or acquiring title by deed in lieu of foreclosure.

Prohibits associations from contracting with service providers owned or operated by board members, officers, or their close relatives, or by persons with material financial interests in board members or officers.

Prohibits service contractors and managers from owning more than 15% of units in a project or purchasing units subject to association liens, and prohibits accepting undisclosed fees or compensation from third-party service providers.