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General Assembly Substitute Bill No. 7068
January Session, 2025
AN ACT CONCERNING COURT -ORDERED ACCOUNTINGS OF
COMMON INTEREST COMMUNITY FINANCIAL RECORDS AND
REVISING THE DISCLOSURE REQUIREMENTS RELATING TO
COMMON INTEREST COMMUNITIES.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:
Section 1. (NEW) (Effective October 1, 2025) (a) 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
group of unit owners of an association comprising not less than ten per 4
cent of such association may petition the Superior Court for an order 5
directing such association to retain an independent third party to 6
conduct an accounting of such association's financial records retained 7
by such association pursuant to the provisions of subsection (a) of 8
section 47-260 of the general statutes that are related to such 9
association's expenditures and any other financial matters, provided 10
such group of unit owners satisfies the following conditions: 11
(1) Such group of unit owners certifies in writing that a good faith 12
belief exists in grounds for an accounting of such association's financial 13
records; 14
(2) Such group of unit owners obtains a signed opinion of an 15
independent certified public accountant who specializes in fraud and 16 Substitute Bill No. 7068
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financial forensics that there appears to be evidence of financial fraud or 17
misuse of such association's funds. Such signed opinion shall identify 18
the basis for the formation of such opinion; 19
(3) Such group of unit owners holds not less than ten per cent of 20
undirected or directed proxies of the unit owners giving authority to 21
such group of unit owners to file such petition for an accounting of such 22
association's financial records; and 23
(4) No such accounting has been completed during the immediately 24
preceding twelve months from the date such group of unit owners filed 25
such petition for an accounting of such association's financial records. 26
(b) Any expenses associated with the completion of an accounting by 27
an independent third party of an association's financial records 28
pursuant to the provisions of subsection (a) of this section shall be paid 29
for by the group of unit owners who filed such petition for an 30
accounting of such association's financial records. 31
Sec. 2. Subparagraph (B) of subdivision (2) of subsection (d) of section 32
20-327b of the general statutes is repealed and the following is 33
substituted in lieu thereof (Effective October 1, 2025): 34
(B) A subsection entitled "General Information" 35
(i) Indicate the YEAR the structure was built: 36
(ii) Indicate HOW LONG you have occupied the property: If not 37
applicable, indicate with N/A. 38
(iii) Does anyone else claim to own any part of your property, 39
including, but not limited to, any encroachment(s)? If YES, explain: 40
(iv) Does anyone other than you have or claim to have any right to 41
use any part of your property, including, but not limited to, any 42
easement or right-of-way? If YES, explain: 43
(v) Is the property in a flood hazard area or an inland wetlands area? 44 Substitute Bill No. 7068
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If YES, explain: 45
(vi) Are you aware of the presence of a dam on the property that has 46
been or is required to be registered with the Department of Energy and 47
Environmental Protection? If YES, explain: 48
(vii) Do you have any reason to believe that the municipality in which 49
the subject property is located may impose any assessment for purposes 50
such as sewer installation, sewer improvements, water main 51
installation, water main improvements, sidewalks or other 52
improvements? If YES, explain: 53
(viii) Is the property located in a municipally designated village 54
district, municipally designated historic district or listed on the National 55
Register of Historic Places? If YES, explain: 56
(ix) Special Statement: Information concerning village districts and 57
historic districts may be obtained from the municipality's village or 58
historic district commission, if applicable. 59
(x) Is the property located in a special tax district? If YES, explain: 60
(xi) Is the property subject to any type of land use restrictions, other 61
than those contained within the property's chain of title or that are 62
necessary to comply with state laws or municipal zoning? If YES, 63
explain: 64
(xii) Is the property located in a common interest community? If YES, 65
is it subject to any community or association dues or fees? Please 66
explain: 67
(xiii) Special statement: If the property is located in a common interest 68
community that is comprised of more than twelve units, the buyer is 69
advised to obtain a "Resale Certificate", which shall be provided by the 70
common interest community pursuant to state law. For any common 71
interest community that is comprised of not more than twelve units and 72
not required to provide such resale certificate, if such resale certificate is 73
not available, the buyer should consult with trade professionals, 74 Substitute Bill No. 7068
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attorneys, real estate professionals, financial analysts and residents of 75
such common interest community for more information concerning 76
issues that may arise with ownership in common interest communities. 77
[(xiii)] (xiv) Do you have any knowledge of prior or pending 78
litigation, government agency or administrative actions, orders or liens 79
on the property related to the release of any hazardous substance? If 80
YES, explain: 81
This act shall take effect as follows and shall amend the following
sections:
Section 1 October 1, 2025 New section
Sec. 2 October 1, 2025 20-327b(d)(2)(B)
Statement of Legislative Commissioners:
In Section 2(d)(2)(B)(xiii), "containing" was changed to "that is
comprised of" for consistency.
INS Joint Favorable Subst. C/R JUD
JUD Joint Favorable Subst.-LCO