LCO No. 5203 1 of 2
General Assembly Raised Bill No. 7068
January Session, 2025
LCO No. 5203
Referred to Committee on INSURANCE AND REAL ESTATE
Introduced by:
(INS)
AN ACT CONCERNING COURT -ORDERED ACCOUNTINGS OF
COMMON INTEREST COMMUNITY FINANCIAL RECORDS.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:
Section 1. (NEW) (Effective October 1, 2025) Notwithstanding any 1
provision of the declaration or bylaws to the contrary and except as 2
provided in subsection (c) of section 47-260 of the general statutes, any 3
unit owner of an association may petition the Superior Court for an 4
order directing such association to retain an independent third party to 5
conduct an accounting of such association's financial records retained 6
by such association pursuant to the provisions of subsection (a) of 7
section 47-260 of the general statutes that are related to such 8
association's expenditures and any other financial matters, provided 9
such unit owner satisfies the following conditions: 10
(1) Such unit owner or authorized agent of such unit owner certifies 11
in writing that grounds for a good faith belief exist for an accounting of 12
such association's financial records; 13
(2) The unit owner or authorized agent of such unit owner obtains a 14
signed opinion of an independent certified public accountant who 15
Raised Bill No. 7068
LCO No. 5203 2 of 2
specializes in fraud and financial forensics that there appears to be 16
evidence of financial fraud or misuse of such association's funds. Such 17
signed opinion shall identify the basis for the formation of such opinion; 18
and 19
(3) Such unit owner holds not less than ten per cent of undirected or 20
directed proxies of the unit owners giving authority to such unit owner 21
to file such petition for an accounting of such association's financial 22
records. 23
This act shall take effect as follows and shall amend the following
sections:
Section 1 October 1, 2025 New section
Statement of Purpose:
To allow any unit owner of a common interest community to petition
the Superior Court for an accounting of such association's financial
records.
[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except
that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not
underlined.]