HB 5246

Abstract

Amends the Condominium Property Act. Provides that the principal officer of the unit owner's association or such other officer as is specifically designated shall furnish specified information relevant to the condominium when requested to do so in writing and within 5 business days, rather than 30 days, of the request by the prospective purchaser. Limits the fee charged by the association or its Board of Managers covering the direct out-of-pocket cost of providing and copying the information to $100. House Floor Amendment No. 1 Provides that the principal officer of the unit owner's association or such other officer as is specifically designated shall furnish specified information when requested to do so in writing and within 10 (rather than 5) business days of the request. Limits the fee covering the direct out-of-pocket cost of providing and copying the information to $375 (instead of $100), with annual adjustments tied to the consumer price index-u. Provides that an association may charge an additional $100 for rush service completed within 72 hours.