Bill > HB1453

This bill amends the Horizontal Property Act to expand and clarify definitions and regulations related to property owners' associations (POAs). The bill adds new definitions including "business day," "local government," and "property owners' association," which is described as a nonprofit organization where lot owners are automatically members and subject to shared expenses. The bill modifies existing provisions about how POAs are administered, requiring bylaws to include details about fee structures, assessment methods, and decision-making procedures. It mandates that POAs keep detailed financial records and submit annual financial reports to co-owners, and introduces provisions for potential audits by Arkansas Legislative Audit if the association receives state funding or provides government-like services. The bill also adjusts language around how administrative modifications can be made, stipulating that changes must be approved through established bylaws and recorded officially. Additionally, the bill broadens the definition of who can be considered a "co-owner" or "person" in the context of property ownership, now explicitly including members of property owners' associations. These changes aim to increase transparency, accountability, and clarity in the governance of horizontal property regimes and associated property owners' associations.

Government Affairs

https://arkleg.state.ar.us/Bills/Detail?id=hb1453&ddBienniumSession=2025%2F2025R