This bill introduces new disclosure requirements for homeowners' associations (HOAs) to enhance transparency and accountability. It amends RSA 292:8-m by adding a series of obligations for HOAs to retain and make available various records, including detailed financial records, minutes of meetings, and a list of current board members. Specifically, the bill mandates that these records be accessible for examination and copying by shareholders or members upon 15 days' notice, during reasonable business hours. However, certain records may be withheld from inspection, such as those related to personnel, ongoing litigation, or attorney-client communications.

Additionally, the bill stipulates that the board of directors and association committees can only hold executive sessions during regular or special meetings, and no final votes or actions can occur in these sessions. It also requires that any pecuniary interest in contracts with the HOA be disclosed in writing to all members, and such contracts must be approved by a majority vote. The act is set to take effect on January 1, 2027.

Statutes affected:
Introduced: 292:8-m
As Amended by the House: 292:8-m
As Amended by the Senate: 292:8-m
Version adopted by both bodies: 292:8-m
CHAPTERED FINAL VERSION: 292:8-m
HB1523 text: 292:8-m