Bill > S2760

This bill concerns structural integrity regulations for certain residential buildings. It requires initial and periodic inspections of the primary load-bearing systems of covered buildings, which include residential condominium and cooperative buildings with concrete, masonry, steel, or hybrid structures. The bill also mandates that associations of planned real estate developments conduct regular capital reserve studies and maintain adequate reserve funds to address repair and replacement of common area components. The bill provides liability protection for structural inspectors acting in good faith and allows associations to impose assessments or obtain loans to fund corrective maintenance without owner approval in certain circumstances.

Budget and Finance, Housing and Urban Affairs

https://www.njleg.state.nj.us/bill-search/2022/S2760