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OH HB371
Bill
Status
12/4/2013
Primary Sponsor
Cheryl Grossman
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AI Summary
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Requires managers of condominiums with more than ten units to hold an active real estate broker's or salesperson's license under Ohio law.
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Mandates that all board of directors meetings be open to unit owners with advance notice (at least five days), allocated time for owner comments, and public materials made available upon request.
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Establishes registration requirements for unit owners associations with the Division of Real Estate and Professional Licensing, with annual renewal and fees not exceeding three dollars per unit.
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Creates the Ohio Condominium Dispute Resolution Commission with seven members to investigate complaints, conduct audits, and resolve disputes regarding condominium association compliance with state law.
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Expands record retention requirements to include financial statements (three-year minimum), board member names and addresses, voting records (one-year minimum), and all current contracts; requires budget summaries be distributed to unit owners within thirty days of adoption.
Legislative Description
To require certain unit owners association managers to hold a real estate broker's license, to make changes to the board meetings, record retention, and budget procedure requirements of the Condominium Law, and to establish a registry of condominium developments and the Ohio Condominium Dispute Resolution Commission.
Condominium Act-revisions
Last Action
To Financial Institutions, Housing and Urban Development
12/4/2013