HI SCR63

Request the Real Estate Commission to study whether and to what degree the findings and recommendations from the 1989 "Condominium Governance – An Examination of Some Issues" report have been implemented.

Commission study must address further action needed to fulfill unresolved findings and recommendations, plus comments and concerns from interested parties.

Study must assess whether developer public reports provide adequate disclosures to prospective purchasers, whether current financial reserves and funding requirements are sufficient, and whether current voting and proxy voting processes are appropriate.

Legislative Reference Bureau requested to provide technical assistance to the Real Estate Commission during the study.

Real Estate Commission must submit report with findings, recommendations, and any proposed legislation to the Legislature no later than twenty days before the 2020 Regular Session convenes.