DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part of the
legislative instrument. The keyword, one-liner, abstract, and digest do not constitute part of the law
or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HB 440 Original 2024 Regular Session Berault
Abstract: Provides relative to homeowner, condominium, and property owner associations and
their accounting requirements.
Proposed law (R.S. 1141.2) expands the definition of "homeowners association" to include "property
owners associations".
Proposed law (R.S. 9:3198) requires in the property disclosure act for the purchaser to be made
aware of any homeowners, property, or condominium association and requires that all association
documents be provided to the purchaser no later than at the time of closing.
Proposed law (R.S. 9:1123.109) provides that a condominium association shall provide copies of
all association documents not publicly recorded to any purchaser or owner within 15 days of the
request at no cost.
Proposed law (R.S. 9:1141.8(D)) provides that a homeowners association shall provide copies of all
association documents not publicly recorded to any purchaser or owner within 15 days of the request
at no cost.
Proposed law (R.S. 9:1123.103) requires every condominium association to have an annual
accounting of the books conducted and reported outlining the fees and expenses for the previous
fiscal year.
Proposed law provides that every condominium association with annual dues exceeding $500,000
shall have an audit conducted of the books and reported every three years by a third-party auditor in
addition to the annual accounting.
Proposed law provides that a member of the association may petition for declaratory judgment if the
condominium association fails to comply with the provisions of proposed law.
Proposed law (R.S. 1141.10) requires every homeowners association to have an annual accounting
of the books conducted and reported outlining the fees and expenses for the previous fiscal year.
Proposed law provides that every homeowners association with annual dues exceeding $500,000
shall have an audit conducted of the books and reported every three years by a third-party auditor in
addition to the annual accounting. Proposed law provides that a member of the association may petition for declaratory judgment if the
homeowners association fails to comply with the provisions of proposed law.
(Amends R.S. 9:1141.2(5) and 3198(3); Adds R.S. 9:1123.103, 1123.109, 1141.8(D) and 1141.10)