MO SB988

Creates the Missouri Commission of Homeowners Associations consisting of seven members appointed by the governor (six current HOA members with at least two years experience, one non-member public representative) with staggered six-year terms.

Requires all homeowners association board members to obtain state certification within 60 days of appointment by completing ethics training, basic financial reporting training, and paying a required fee; original certificates valid for two years with renewal requiring continuing education hours.

Establishes criminal penalties of $20-$500 fine and five-year disqualification from serving on an HOA board for anyone serving without certification.

Mandates financial and procedural audits by certified public accountants based on association size: none for under 10 units, every four years for 11-20 units, every two years for 21-50 units, and annually for 51+ units; audit findings must be distributed to members.

Requires homeowners associations to solicit and review at least three bid proposals before making expenditures over $3,000 and authorizes the commission to investigate complaints against board members and certificate holders.