Bill > HB107

Introduced Session

AN ACT concerning Cooperative Housing Corporations, Condominiums, and Homeowners Associations - Reserve Studies - Statewide FOR the purpose of making statewide certain provisions relating to reserve studies; requiring the governing body of certain cooperative housing corporations, condominiums, or homeowners associations to have a reserve study conducted of the common elements of the cooperative housing corporation, condominium, or homeowners association and to update the study at certain intervals; imposing certain requirements relating to the annual budget of a cooperative housing corporation, condominium, or homeowners association; authorizing the governing body of a cooperative housing corporation, condominium, or homeowners association to increase a certain assessment; and generally relating to reserve studies and annual budgets of cooperative housing corporations, condominiums, and homeowners associations. BY repealing and reenacting, with amendments, Article - Corporations and Associations Section 5-6B-26.1 Annotated Code of Maryland (2014 Replacement Volume and 2021 Supplement) BY repealing and reenacting, with amendments, Article - Real Property Section 11-109(c)(16)(v), 11-109.2(c), 11-109.4, 11-110(b)(1)(ii), 11B-106.1(e), 11B-112.2(d), 11B-112.3, and 11B-117(a)(2) Annotated Code of Maryland (2015 Replacement Volume and 2021 Supplement)

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Marvin Holmes (D)*,  Linda Foley (D),  Anne Healey (D),  Mary Lehman (D),  Jen Terrasa (D), 

Enacted under Article II, Section 17(c) of the Maryland Constitution - Chapter 664 (on 05/29/2022)

Official Document