HB 2800 Summary

• Managing entities of real estate developments must retain and provide electronic access to recorded covenants, conditions, and restrictions within 3 business days of request to homeowners and parties to home transactions.

• Owners associations must notify all homeowners via email or postal mail within 5 business days of adopting updates to covenants, conditions, and restrictions.

• Individual fees assessed by owners associations or third-party management companies are capped at $175.00 per fee, excluding fines, assessments, and services; homeowners cannot be charged for property condition reports requested for sale purposes.

• Owners associations must maintain financial records updated quarterly and provide statements detailing a homeowner's standing regarding dues and assessments within 5 business days for a maximum charge of $50.00 per request.

• Owners associations must disclose fee structures and schedules of fines in association documents, with fine structure updates limited to once per calendar year at annual meetings; settlement services providers may charge up to $25.00 for covenant and restriction copies at closing.