Senator Brownsberger submitted the following written testimony to the Joint Committee on Housing.
TO: Committee on Housing
FROM: Senator William N. Brownsberger
RE: S621, An Act relative to compliance of condominium associations
DATE: November 14, 2013
I write in support of S621, An Act relative to compliance of condominium associations.
It is my understanding that some condominium boards of managers do not comply with the present statute requiring that all condo financial records be kept for seven years and be accessible to the owners upon request. In that situation, owners are often unable to refinance or sell without these documents.
S621 creates a penalty for non-compliance – the association must pay reasonable legal fees.
I hope that the Committee will work out a way to ensure compliance with the present law. This would benefit the more than 300,000 condominium owners across the state.
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