The bill amends sections of the General Laws in Chapter 34-36.1, known as "Condominium Law," to enhance transparency and governance within condominium associations. Key changes include:

1. **Meetings and Notice**: Regular and special meetings of the executive board must be open to unit owners, with the exception of executive sessions for specific matters. The executive board is required to provide a reasonable opportunity for owner comments on agenda items prior to any vote. Notice of meetings must be given at least five days in advance for regular meetings and twenty-four hours for special meetings, including details on date, time, agenda topics, and access instructions.

2. **Minutes**: Minutes of executive board and unit owner meetings must be recorded, approved, and made available to owners within thirty days after approval. Executive-session minutes must state the general topic and legal basis without privileged details.

3. **Annual Meeting Requirements**: The annual meeting of unit owners must include a presentation of the budget (if no separate budget meeting is held), reserves status, updates on insurance coverages, and notice of any significant contracts entered into by the association, with advance materials provided at least ten days before the meeting.

4. **Association Records**: The association is required to maintain detailed financial records and provide access to records upon request, including minutes, insurance policies, bank statements, signed contracts, reserve studies, and paid vendor invoices.

5. **Financial Audits**: Condominium associations with more than twenty units must undergo an independent financial review at least once every five years, conducted by a certified public accountant who is independent of the association. The completed review must be provided to the executive board and made available to unit owners upon request. If discrepancies are identified in the financial review, a full audit must be conducted at the association's expense.

These amendments aim to improve accountability and ensure that unit owners have access to important financial and operational information regarding their associations.