House File 432 - Enrolled House File 432 AN ACT RELATING TO ACCESS BY CERTAIN ENTITIES TO SPECIFIC RECORDS AND DOCUMENTS MAINTAINED BY A UNIT OWNERS ASSOCIATION. BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: Section 1. NEW SECTION . 499C.1 Definitions. As used in this chapter, unless the context otherwise requires: 1. Bylaws means the instruments, however denominated, that contain the procedures for conducting the affairs of a unit owners association or an executive board regardless of the form in which the association is organized, including any amendments to such instruments. 2. Common element means: a. For a cooperative under chapter 499A or a horizontal property regime under chapter 499B, all portions of the common interest community other than the units. b. For a planned community, any real estate within the planned community which is owned or leased by the unit owners association, other than a unit. c. For all common interest communities, any other interests in real estate for the benefit of unit owners identified in the declaration. 3. a. Common interest community means real estate described in a declaration with respect to which a person, by virtue of the persons ownership of a unit, is obligated to pay for a share of real estate taxes, insurance premiums,
House File 432, p. 2 maintenance, or improvement of, or services or other expenses related to, common elements, other units, or other real estate described in the declaration. Common interest community includes a planned community, a cooperative under chapter 499A, and a horizontal property regime under chapter 499B. b. Common interest community does not include: (1) A covenant that requires the owners of separate parcels of real estate to share costs or other obligations related to a wall, driveway, well, or other similar structure, unless all such owners consent in writing to the creation of a common interest community. (2) Real estate described in paragraph a if all units are owned by a single owner. (3) Real estate described in paragraph a that is managed by the original developer of the real estate. 4. Declarant means a person or group of persons who, as the record title owner of real estate, by a declaration, creates a common interest community. 5. Declaration means the instrument, however denominated, that creates a common interest community, including any amendments to the instrument. 6. Executive board means the body, regardless of name, designated in the declaration or bylaws to act on behalf of a unit owners association. 7. Planned community means a common interest community that is not solely a cooperative under chapter 499A or solely a horizontal property regime under chapter 499B, and includes property owner or homeowner associations. A cooperative under chapter 499A or a horizontal property regime under chapter 499B, however, may be part of a planned community. 8. Rule means a policy, guideline, restriction, procedure, or regulation, however denominated, which is not set forth in the declaration or bylaws. For a common interest community comprised of less than one thousand units, rule does not include, mean, or attempt to effectuate a restrictive covenant that has expired. 9. Unit means a portion of a common interest community designated for separate ownership or occupancy or as otherwise defined in the statute under which the common interest
House File 432, p. 3 community is organized, including but not limited to an apartment as defined in section 499B.2. 10. Unit owner means a declarant or other person that owns a unit, but does not include a person having an interest in a unit solely as security for an obligation. In a horizontal property regime under chapter 499B or a planned community, the declarant is the owner of a unit. In a cooperative under chapter 499A, the declarant is the owner of any unit to which an interest has been allocated until that unit has been conveyed to another person. 11. Unit owners association means an association, regardless of name, organized as a for-profit or nonprofit corporation, trust, limited liability company, partnership, unincorporated association, or any other form of organization authorized by the laws of this state, the membership of which consists solely of unit owners except following termination of the common interest community, at which time the association shall consist of all former unit owners entitled to distributions of proceeds or their heirs, successors, or assigns. Sec. 2. NEW SECTION . 499C.2 Records and documents access. 1. A unit owners association, a unit owners associations designee, or a unit owners associations management company shall make all of the following records and documents available to a unit owner or the unit owners authorized agent within ten business days of a request by the unit owner or the unit owners authorized agent: a. The organizational documents for the common interest community, including all amendments. b. The unit owners associations bylaws, including all amendments. c. The rules of the common interest community, including all amendments. d. The minutes of the most recently held unit owners meeting, including any financial reports. The minutes must indicate the date, time, and place of the meeting, the names of all persons present at the meeting, each action taken at the meeting, and the results of each vote taken at the meeting.
House File 432, p. 4 e. The minutes of the most recently held executive board meeting, including any financial reports. The minutes must indicate the date, time, and place of the meeting, the names of all persons present at the meeting, each action taken at the meeting, and the results of each vote taken at the meeting. 2. A unit owners association, a unit owners associations designee, or a unit owners associations management company may make the records and documents under subsection 1 available to a unit owner or the unit owners authorized agent via any of the following methods: a. Paper copy. b. Electronically to an electronic mail address provided by the unit owner or the unit owners authorized agent. c. By posting the records and documents to an internet site maintained by the unit owners association, the unit owners associations designee, or the unit owners associations management company to which the unit owner or the unit owners authorized agent has reasonable access. 3. A unit owners association, a unit owners associations designee, or a unit owners associations management company may charge a reasonable fee for all records and documents provided under this section. The fee shall not exceed the estimated cost of production or reproduction of the records or documents. ______________________________ PAT GRASSLEY Speaker of the House ______________________________ AMY SINCLAIR President of the Senate I hereby certify that this bill originated in the House and is known as House File 432, Ninetieth General Assembly. ______________________________ MEGHAN NELSON Chief Clerk of the House Approved _______________, 2023 ______________________________ KIM REYNOLDS Governor