Bill Summary for H 1084 (2011-2012)
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Summary date:
Jun 19 2012
Bill Information:
| View NCGA Bill Details | 2011-2012 Session |
TO: (1) REQUIRE ASSOCIATIONS TO RELEASE LIENS UPON PAYMENT IN FULL; (2) REQUIRE ALL ASSOCIATIONS TO CONDUCT FINANCIAL REVIEWS OR FINANCIAL AUDITS; (3) ALLOW USE OF ALTERNATIVE DISPUTE RESOLUTION FOR CONFLICTS ARISING UNDER THE PLANNED COMMUNITY ACT OR CONDOMINIUM ACT; AND (4) SIMPLIFY THE COLLECTION OF PROPERTY TAXES THAT ARE DUE ON PROPERTY OWNED BY CERTAIN NONPROFIT HOMEOWNERS’ ASSOCIATIONS, AS RECOMMENDED BY THE HOUSE SELECT COMMITTEE ON HOMEOWNERS ASSOCIATIONS.Intro. by Jordan, Justice, R. Moore, Spear.
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Bill summary
House committee substitute makes the following changes to 2nd edition. Deletes Part III of the act (amendments to taxation of property owned by associations). Makes a conforming change to the title.