NC H865

Requires community association property managers to obtain a real estate broker license from the North Carolina Real Estate Commission on or after October 1, 2017.

Mandates fidelity bond coverage of at least $20,000 for all community association property managers handling association funds.

Requires written contracts between brokers and community associations with one-year terms, allowing associations to cancel with 60 days' notice.

Mandates community associations register annually with the Commission and provide board member information, manager details, and bond company information for a $100 registration fee.

Requires board members elected to community association executive boards to complete four hours of education on community association laws within 60 days, with a $75 per-person course fee paid by the association.