Bill > HB1251

This bill, titled the "Right to Information for Homeowners Act," aims to enhance transparency by requiring community associations, which are defined as non-governmental organizations of homeowners in a specific geographic area like a neighborhood or condominium, to provide unit owners (homeowners within these associations) with access to important documents. These "critical documents" include insurance policies, bank statements, financial reports, budgets, meeting minutes, and governing documents. The bill mandates that associations must make these records available within 14 days of a request, either electronically or as physical copies, and maintain a secure online database for unit owners to access them. Furthermore, community associations will be required to publish an annual report detailing their insurance, financial health, and debts, and to conduct independent financial audits at least every two years, making the results available to all unit owners. The bill also establishes that unit owners can take legal action for damages if an association violates these provisions, with potential fines of up to $500 per violation and the possibility of awarding attorney's fees to the prevailing party.

Government Affairs

https://www.legis.ga.gov/legislation/73018