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NJ A1006
Bill
Status
1/9/2024
Primary Sponsor
Nancy Munoz
Click for details
AI Summary
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Requires homeowners' associations to provide unit owners with board member rosters and contact information, election dates and candidacy forms, annual budgets, and insurance policy details within one to two business days of request
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Mandates that all maintenance, management, or operation contracts entered by HOAs include 24-hour emergency services and a telephone hotline for unit owners
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Requires associations to maintain financial records following generally accepted accounting standards, with annual written summaries provided to unit owners and records open for inspection at reasonable times
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Requires meeting notices to be delivered to homeowners at least seven days prior to any association meeting via regular mail, electronic mail, or personal delivery
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Applies to condominiums, cooperatives, and homeowners' associations, with new requirements taking effect when existing bylaws are amended or new bylaws are adopted
Legislative Description
Requires certain common interest community associations to publish certain information; requires that homeowners' association contracts for management and maintenance include 24-hour emergency services.
Housing
Last Action
Introduced, Referred to Assembly Housing Committee
1/9/2024