MS HB933

Removes the requirement that board approval for transfers exceeding $10,000 from HOA reserve or operating accounts must be in written form, allowing approval through other means

Reduces board review requirements at regular meetings to only reviewing the latest account statements from financial institutions, eliminating previous requirements to review reconciliations, budgets, check registers, and other detailed financial documents

Allows homeowners associations to maintain comparable insurance coverage for directors and officers as an alternative to fidelity bond coverage

Shifts vote authority from HOA members to the board for deciding whether to opt out of fidelity bond coverage requirements

Holds managing agents solely responsible for compliance with trust fund account requirements and provides that banks and savings associations are held harmless from any liabilities, costs, or fees resulting from actions brought under this act