House Bill 1072 Summary

• Establishes homeowners association study committee consisting of 4 House members and 4 Senate members appointed by leadership to study Indiana homeowners associations, mediation, and arbitration of disputes; committee expires January 1, 2016.

• Requires disclosure to property purchasers no later than 10 days before closing: copy of governing documents, statement of unpaid liens and assessments, and names and addresses of association officers, board members, and management contractors.

• Establishes requirements for valid proxies at homeowners association meetings, including member name and address, proxy holder name, date given, meeting date, agenda, and member signature; multi-meeting proxies limited to 180 days and must specify matters.

• Creates expedited small claims court procedure for disputes between members and homeowners associations with hearing within 30 days and court authority to issue injunctions, order restitution, and remove board members.

• Grants members right to inspect financial records upon written request with reasonable particularity; associations cannot charge for first hour of search time but may charge up to $35 per hour for additional time, capped at $200 total.