Property Owners' Association Act; member approval required for certain capital expenditures. (SB861)
Introduced By
Sen. Bryce Reeves (R-Spotsylvania)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Property Owners' Association Act; member approval required for certain capital expenditures. Requires a property owners' association's board of directors, before making expenditures on capital components that exceed $1 million, to obtain the approval of a majority of lot owners who are members in good standing of the property owners' association. The requirements do not affect capital components approved by the board of directors and fully funded prior to July 1, 2018. Read the Bill »
Outcome
Bill Has Failed
History
Date | Action |
---|---|
01/17/2018 | Presented and ordered printed 18104791D |
01/17/2018 | Referred to Committee on General Laws and Technology |
01/23/2018 | Impact statement from DPB (SB861) |
01/29/2018 | Passed by indefinitely in General Laws and Technology with letter (14-Y 0-N) (see vote tally) |