Relating to access to unit owners associations’ financial information and meeting minutes

This bill relates to access to unit owners associations’ financial information and meeting minutes. Under the bill, a unit owners association is an organization of unit owners in a common interest community, including a planned community, a cooperative under Code chapter 499A, or a horizontal property regime under Code chapter 499B. certain records and documents (records) as specified in the bill. All records retained by an association must be available for examination and copying by a unit owner or the unit owner’s authorized agent during reasonable business hours or at a mutually convenient time and location upon five days’ notice that reasonably identifies the specific records being requested. All records retained by an association must also be available for examination and copying by a bona fide prospective purchaser of a unit or the prospective purchaser’s authorized agent upon two days’ notice. Records that may be excluded from being made available for examination and copying are detailed in the bill. An association is prohibited from charging a fee for either copies of the records or for supervising the inspection of the records. The right to inspect records includes the right to copy records by photocopying or other means and to receive copies via encrypted electronic transmission, if available. An association is not obligated to compile or synthesize records, and the bill prohibits the records from being used for commercial purposes.