(at the request of House Interim Committee on Judiciary for Oregon Condominium Working Group)
Chief Sponsors:
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Regular Sponsors:
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Bill Title:
Relating to financial practices in associations.
Catchline/Summary:
Requires certain homeowners associations and all condominium unit owners associations to carry fidelity bond coverage, unless owners and board have elected otherwise in the preceeding year. Requires certain homeowners associations and all condominium unit owners associations to be audited by certified public accountant at least once every three years if annual assessments exceed $500,000] carry fidelity bond coverage, unless owners and board have elected otherwise in the preceeding year.
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HB 2466
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