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MD SB471
MD SB471Condominiums - Disclosures to Unit Owners and Prohibited Provisions in Instruments by Developers (Sunset Island Act)
summary
Introduced
01/29/2020
01/29/2020
In Committee
01/29/2020
01/29/2020
Crossed Over
Passed
Dead
03/18/2020
03/18/2020
Introduced Session
2020 Regular Session
Bill Summary
Clarifying that certain provisions of law relating to closed-door meetings of a board of directors of a condominium do not allow the board to withhold or agree to withhold any information about a legal agreement to which the board is a party from the unit owners; altering the applicability of a certain provision of law concerning claims against a developer or vendor; establishing that a provision in certain instruments made by a developer that prohibits a certain disclosure to unit owners is unenforceable; etc.
AI Summary
This bill, known as the Sunset Island Act, clarifies several provisions related to condominium governance and developer disclosures. It specifies that a condominium board cannot withhold information from unit owners about any legal agreement to which the board is a party. The bill also establishes that provisions in instruments created by developers that prohibit disclosures to unit owners about settlement agreements are unenforceable. Additionally, the bill applies these changes prospectively and does not affect existing declarations, bylaws, or other instruments executed before the bill's effective date of October 1, 2020.
Committee Categories
Justice
Sponsors (1)
Last Action
Hearing 2/12 at 12:00 p.m. (on 01/29/2020)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://mgaleg.maryland.gov/mgawebsite/Legislation/Details/SB0471?ys=2020RS |
| BillText | http://mgaleg.maryland.gov/2020RS/bills/sb/sb0471f.pdf |
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