HB885: Community Association Transparency and Protection Act; enact

Legislative Summary

A BILL to be entitled an Act to amend Chapter 3 of Title 44 of the O.C.G.A., relating to regulation of specialized land transactions, so as to provide for protections for homeowners, condominium owners, and property owners in community associations; to provide for a short title; to provide for definitions; to require declarants, developers, or other establishing entities to provide for budgets and reserve account funding for maintenance of community amenities; to require performance and maintenance bonds for community amenities; to implement requirements and procedures for turnover and transition from declarants, developers, or other establishing entities to property owners comprising the community association; to provide for civil causes of action for violations; to provide for civil penalties for violations and the recovery of litigation costs; to provide for related matters; to provide for an effective date and applicability; to repeal conflicting laws; and for other purposes.