Condominium association funds; fiduciary management, permissible investments. (HB13)
Introduced By
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Fiduciary management of condominium association funds; permissible investments. Authorizes the fiduciary managing agent of a condominium association to invest managed funds in United States securities or maintain a limited amount of managed funds in a money market account that invests in United States securities or other financial instruments guaranteed by securities of the United States. Under current law, a fiduciary managing agent may only keep association funds in a trust account in a federally insured financial institution. Read the Bill »
Outcome
Bill Has Failed
History
Date | Action |
---|---|
11/19/2019 | Committee |
11/19/2019 | Prefiled and ordered printed; offered 01/08/20 20100062D |
11/19/2019 | Referred to Committee on General Laws |
01/15/2020 | Assigned GL sub: Housing/Consumer Protection |
01/24/2020 | Impact statement from DPB (HB13) |
02/06/2020 | Subcommittee recommends striking from docket (8-Y 0-N) |
02/06/2020 | Stricken from docket by General Laws (20-Y 1-N) (see vote tally) |