Bill > S3788

Introduced Session

This bill would provide the Commissioner of Community Affairs with the authority to impose a penalty on the association of a planned real estate development for failing to make executive board meeting minutes available to the association members in compliance with the existing requirements of the 1993 supplement to "The Planned Real Estate Development Full Disclosure Act", P.L.1993, c.30 (C.45:22A-43 et seq.). A penalty imposed by the commissioner pursuant to this bill would not exceed $2,000 per meeting for which the minutes were not made available to one or more association members. Under existing law, the association of a planned real estate development is required to make minutes of the proceedings of executive board meetings available to all association members prior to the next open meeting. The meetings subject to this existing requirement consist of all executive board meetings required to be open to all association members, and voting-eligible tenants where applicable. A planned real estate development is a term defined in the "The Planned Real Estate Development Full Disclosure Act," P.L.1977, c.419 (C.45:22A-21 et seq.) to encompass communities governed by homeowners' associations, condominiums, and cooperative communities.

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Loretta Weinberg (D)*, 

Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee (on 05/20/2021)

Official Document