Requiring the governing body of certain cooperative housing corporations, condominiums, and homeowners associations to have a study of reserves required for future major repairs and replacements conducted by a certain date and at certain 5-year intervals; requiring a certain reserve study to meet certain criteria; establishing that the governing body of a cooperative housing corporation or a homeowners association and the board of directors of a condominium have authority to increase a certain assessment; etc.
Bill File Type: Regular
Effective Date(s): October 1, 2020
( 5-6B-26.1 )
Last Updated: 2/24/2020 2:48 PM