Connecticut 2025 Regular Session

Connecticut House Bill HB07068 Compare Versions

Version 1 (Old)

Version 2 (New)

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5	5		General Assembly Substitute Bill No. 7068
6	6		January Session, 2025
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13	12		AN ACT CONCERNING COURT -ORDERED ACCOUNTINGS OF
14	13		COMMON INTEREST COMMUNITY FINANCIAL RECORDS AND
15	14		REVISING THE DISCLOSURE REQUIREMENTS RELATING TO
16	15		COMMON INTEREST COMMUNITIES.
17	16		Be it enacted by the Senate and House of Representatives in General
18	17		Assembly convened:
19	18
20	19		Section 1. (NEW) (Effective October 1, 2025) (a) Notwithstanding any 1
21	20		provision of the declaration or bylaws to the contrary and except as 2
22	21		provided in subsection (c) of section 47-260 of the general statutes, any 3
23	22		group of unit owners of an association comprising not less than ten per 4
24	23		cent of such association may petition the Superior Court for an order 5
25	24		directing such association to retain an independent third party to 6
26	25		conduct an accounting of such association's financial records retained 7
27	26		by such association pursuant to the provisions of subsection (a) of 8
28	27		section 47-260 of the general statutes that are related to such 9
29	28		association's expenditures and any other financial matters, provided 10
30	29		such group of unit owners satisfies the following conditions: 11
31	30		(1) Such group of unit owners certifies in writing that a good faith 12
32	31		belief exists in grounds for an accounting of such association's financial 13
33	32		records; 14
34	33		(2) Such group of unit owners obtains a signed opinion of an 15
35	34		independent certified public accountant who specializes in fraud and 16 Substitute Bill No. 7068
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40	39		financial forensics that there appears to be evidence of financial fraud or 17
41	40		misuse of such association's funds. Such signed opinion shall identify 18
42	41		the basis for the formation of such opinion; 19
43	42		(3) Such group of unit owners holds not less than ten per cent of 20
44	43		undirected or directed proxies of the unit owners giving authority to 21
45	44		such group of unit owners to file such petition for an accounting of such 22
46	45		association's financial records; and 23
47	46		(4) No such accounting has been completed during the immediately 24
48	47		preceding twelve months from the date such group of unit owners filed 25
49	48		such petition for an accounting of such association's financial records. 26
50	49		(b) Any expenses associated with the completion of an accounting by 27
51	50		an independent third party of an association's financial records 28
52	51		pursuant to the provisions of subsection (a) of this section shall be paid 29
53	52		for by the group of unit owners who filed such petition for an 30
54	53		accounting of such association's financial records. 31
55	54		Sec. 2. Subparagraph (B) of subdivision (2) of subsection (d) of section 32
56	55		20-327b of the general statutes is repealed and the following is 33
57	56		substituted in lieu thereof (Effective October 1, 2025): 34
58	57		(B) A subsection entitled "General Information" 35
59	58		(i) Indicate the YEAR the structure was built: 36
60	59		(ii) Indicate HOW LONG you have occupied the property: If not 37
61	60		applicable, indicate with N/A. 38
62	61		(iii) Does anyone else claim to own any part of your property, 39
63	62		including, but not limited to, any encroachment(s)? If YES, explain: 40
64	63		(iv) Does anyone other than you have or claim to have any right to 41
65	64		use any part of your property, including, but not limited to, any 42
66	65		easement or right-of-way? If YES, explain: 43
67	66		(v) Is the property in a flood hazard area or an inland wetlands area? 44 Substitute Bill No. 7068
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72	71		If YES, explain: 45
73	72		(vi) Are you aware of the presence of a dam on the property that has 46
74	73		been or is required to be registered with the Department of Energy and 47
75	74		Environmental Protection? If YES, explain: 48
76	75		(vii) Do you have any reason to believe that the municipality in which 49
77	76		the subject property is located may impose any assessment for purposes 50
78	77		such as sewer installation, sewer improvements, water main 51
79	78		installation, water main improvements, sidewalks or other 52
80	79		improvements? If YES, explain: 53
81	80		(viii) Is the property located in a municipally designated village 54
82	81		district, municipally designated historic district or listed on the National 55
83	82		Register of Historic Places? If YES, explain: 56
84	83		(ix) Special Statement: Information concerning village districts and 57
85	84		historic districts may be obtained from the municipality's village or 58
86	85		historic district commission, if applicable. 59
87	86		(x) Is the property located in a special tax district? If YES, explain: 60
88	87		(xi) Is the property subject to any type of land use restrictions, other 61
89	88		than those contained within the property's chain of title or that are 62
90	89		necessary to comply with state laws or municipal zoning? If YES, 63
91	90		explain: 64
92	91		(xii) Is the property located in a common interest community? If YES, 65
93	92		is it subject to any community or association dues or fees? Please 66
94	93		explain: 67
95	94		(xiii) Special statement: If the property is located in a common interest 68
96	95		community that is comprised of more than twelve units, the buyer is 69
97	96		advised to obtain a "Resale Certificate", which shall be provided by the 70
98	97		common interest community pursuant to state law. For any common 71
99		-	interest community ~~that is comprised of~~ not more than twelve units and 72
100		-	~~not~~ required to provide such resale certificate, if such resale certificate is 73
101		-	~~not~~ available, the buyer should consult with trade professionals, 74 Substitute Bill No. 7068
	98	+	interest community containing not more than twelve units and not 72
	99	+	required to provide such resale certificate, if such resale certificate is not 73
	100	+	available, the buyer should consult with trade professionals, attorneys, 74 Substitute Bill No. 7068
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106		-	~~attorneys,~~ real estate professionals, financial analysts and residents of 75
107		-	~~such~~ common interest community for more information concerning 76
108		-	~~issues~~ that may arise with ownership in common interest communities. 77
	105	+	real estate professionals, financial analysts and residents of such 75
	106	+	common interest community for more information concerning issues 76
	107	+	that may arise with ownership in common interest communities. 77
109	108		[(xiii)] (xiv) Do you have any knowledge of prior or pending 78
110	109		litigation, government agency or administrative actions, orders or liens 79
111	110		on the property related to the release of any hazardous substance? If 80
112	111		YES, explain: 81
113	112		This act shall take effect as follows and shall amend the following
114	113		sections:
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116	115		Section 1 October 1, 2025 New section
117	116		Sec. 2 October 1, 2025 20-327b(d)(2)(B)
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119		-	Statement of Legislative Commissioners:
120		-	In Section 2(d)(2)(B)(xiii), "containing" was changed to "that is
121		-	comprised of" for consistency.
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123	118		INS Joint Favorable Subst. C/R JUD
124		-	JUD Joint Favorable Subst.-LCO
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