HI SR41

Real Estate Commission is requested to study the implementation status of findings and recommendations from the 1989 Legislative Reference Bureau report "Condominium Governance – An Examination of Some Issues"

Study must assess whether developer public reports provide adequate disclosures to prospective condominium purchasers and identify methods to further educate buyers

Study must evaluate whether current financial reserves study and funding requirements for registered condominium associations are sufficient

Study must examine the appropriateness of current voting processes, impacts of proxy voting, and conflicts between owner-occupants, investor owners, and commercial owners

Real Estate Commission must submit findings, recommendations, and any proposed legislation to the Legislature no later than 20 days before the 2020 Regular Session convenes, with Legislative Reference Bureau providing technical assistance