Bill > SB244

This bill aims to improve dispute resolution and increase transparency for homeowner associations in New Mexico. It amends the Homeowner Association Act to: - Expand disclosure requirements for homeowner associations, including providing members access to financial and other records within 10 business days of a written request. - Require board members to certify in writing that they have read the community documents and will uphold them. - Allow for alternative dispute resolution processes like mediation to resolve disputes between homeowners and the association. - Mandate that homeowner associations created before July 1, 2013 comply with the Homeowner Association Act by January 1, 2018. - Provide a process for homeowners to remove board members, unless a removal process is already outlined in the community documents. - Establish requirements for annual meetings, board meeting notices, and maintaining meeting minutes. The bill aims to increase transparency and accountability for homeowner associations in New Mexico.

Government Affairs, Justice, Military Affairs and Security

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=244&year=17