HB0271 - Community Association Manager Act

• Creates the Community Association Manager Act to regulate professionals managing condominiums, cooperatives, and other residential community associations through licensing by the Department of Financial and Professional Regulation.

• Requires community association managers to obtain a license beginning January 1, 2011, with exemptions for unpaid board members, associations with 10 or fewer units, licensed attorneys, and court-appointed fiduciaries.

• Establishes a 7-member Community Association Manager Regulatory Commission (5 licensees and 2 unit owners) to oversee licensure, examinations, disciplinary actions, and continuing education requirements.

• Sets qualification standards including minimum age of 21, citizenship, completion of 20 classroom hours in approved courses, passage of a standardized examination, and prohibition on criminal convictions involving moral turpitude.

• Requires licensees to maintain fidelity insurance covering community association funds, segregate client accounts, carry general liability and errors and omissions insurance, and complete 4 hours of continuing education annually for license renewal.

• Sunsets the Act on January 1, 2021, under the Regulatory Sunset Act.