HB 996 Summary

• Establishes the "Common Interest Owners Bill of Rights Act" creating 23 new sections (448.300-448.410) governing condominiums and common interest communities with 12+ residential units in Missouri

• Requires associations to organize as nonprofit corporations under chapter 355, maintain liability insurance, hold annual meetings with 10-60 day notice, and keep detailed financial and meeting records available to unit owners upon 5 days' notice

• Restricts association enforcement powers by prohibiting foreclosure unless a unit owner owes at least three months of assessments and the executive board specifically votes for it; prohibits suspension of voting rights, access to units, or essential services regardless of delinquency

• Limits executive board authority by prohibiting amendment of declarations or bylaws, termination of the community, or election of board members; requires bylaws to include no more than two consecutive terms for board members and mandate oath of office

• Establishes unit owner rights including removal of board members and officers by majority vote, comment opportunities at meetings, proxy and absentee voting, and reasonable rules that must comply with state and federal law, with the act superseding conflicting state law