Provides that a condominium board's or its officer's or member's failure to maintain the minimum required balance for a condominium's replacement reserves fund may constitute a violation of the fiduciary duty owed. Establishes a minimum balance for a condominium association's replacement reserves fund, with an exception for sufficient assessments. Effective 9/1/2025.

Statutes affected:
HB117: 514B-106, 514B-148
Latest: 514B-106, 514B-148