88R483 DRS-D By: Shaheen H.B. No. 1252 A BILL TO BE ENTITLED AN ACT relating to the audit of the financial records of certain property owners' associations. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Chapter 209, Property Code, is amended by adding Section 209.00501 to read as follows: Sec. 209.00501. ANNUAL AUDIT OF ASSOCIATION FINANCIAL RECORDS; PROVISION TO ASSOCIATION MEMBERS. (a) A property owners' association shall: (1) annually obtain an independent audit of the association's financial records; and (2) provide a copy of the audit to each member of the association. (b) An audit required by this section shall be performed by a certified public accountant if required by: (1) the association's bylaws; (2) a vote of the board; or (3) a majority vote of the members of the association voting at a meeting of the association. SECTION 2. This Act takes effect September 1, 2023.