HI HR160

Urges the Real Estate Commission's Condominium Review Committee and Ad Hoc Committee on Condominium Education and Research to create curriculum for condominium association board members covering six core topics: understanding governing documents, fiduciary duty, codes of conduct, conflicts of interest, business judgment rule, and confidentiality of executive session matters.

Mandates curriculum be taught annually in each county, made available by video to the public, and promoted to condominium associations paying into the Condominium Education Trust Fund.

Requires funding for curriculum creation and distribution to come from the Condominium Education Trust Fund, which had a balance over $2,000,000 as of June 30, 2018 and receives approximately $600,000 in annual revenues.

Addresses the governance needs of over 10,000 volunteer board members serving 350,000 people in approximately 1,000 condominium associations in Hawaii with fiduciary responsibility for over $30 billion in assets.

Directs transmittal of certified copies to the Governor, Department of Commerce and Consumer Affairs Director, Real Estate Commission leadership, and three condominium association organizations.