HB4158 Summary

• Requires condominium and common interest community association boards to maintain reserve studies and make them available for member inspection and examination.

• Extends the repeal date of the Condominium and Common Interest Community Ombudsperson Act from July 1, 2022 to January 1, 2024.

• Adds reserve studies to the list of records that members can inspect in both the Common Interest Community Association Act and the Condominium Property Act.

• Clarifies that members who prevail in enforcement actions to compel examination of reserve study records are entitled to recover reasonable attorney's fees and costs from the association.

• Effective upon becoming law.