H.B. 475 Summary

• Establishes licensing and regulation requirements for association managers of homeowners' associations, planned community associations, cooperative housing corporations, and condominium unit owners' associations, effective July 1, 2027.

• Creates an Association Manager Licensing Board within the Department of Commerce and Consumer Affairs with authority to set licensure requirements, grant or deny licenses, adopt rules, and take disciplinary action.

• Prohibits unlicensed persons from being employed or contracted as association managers beginning July 1, 2027, with violations subject to fines and each day constituting a separate offense.

• Exempts employees or contractors working under the supervision of a licensed association manager from licensure requirements.

• Establishes an Association Managers Recovery Fund to compensate persons injured by violations of licensing requirements by licensed association managers, with recovery limits and exclusions for claims against managers whose licenses are suspended, revoked, or inactive.