SB2730 Summary

• All attorneys' fees incurred by condominium associations must be paid exclusively from association funds or reserves, not assessed against individual unit owners unless the association prevails in the matter and assessments apply to all units.

• Association legal fees are capped at 25 percent of the original debt amount sought, unless majority of unit owners approve higher fees at a regular meeting; for debts under $2,000, fees cannot exceed 25 percent of the claimed debt.

• Attorneys retained by associations must communicate only with the board, except when requesting materials or responses directly from owners that are essential to each specific matter.

• Attorneys retained by associations are prohibited from billing or demanding payment directly from any unit owner.

• Effective date is July 1, 2050.