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

DateAction
01/17/2018Presented and ordered printed 18104791D
01/17/2018Referred to Committee on General Laws and Technology
01/23/2018Impact statement from DPB (SB861)
01/29/2018Passed by indefinitely in General Laws and Technology with letter (14-Y 0-N) (see vote tally)