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

1. **Meetings and Notice**: Regular and special meetings of the executive board must be open to unit owners, with exceptions for executive sessions discussing privileged legal communications, personnel matters, or specific owner delinquencies. 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 access methods. Minutes of meetings must be recorded, approved, and made available to owners within thirty days after approval.

2. **Annual Meeting Requirements**: The annual meeting of unit owners must include a presentation of the budget, reserves status, insurance coverage updates, and notice of significant contracts, with advance materials provided at least ten days before the meeting.

3. **Access to Records**: The association must maintain detailed financial records and provide access to various documents, including minutes, insurance policies, bank statements, signed contracts, and results of financial reviews or audits.

4. **Financial Audits**: Condominium associations governing more than twenty units are required to obtain an independent financial review at least once every five fiscal 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, with costs shared as a common expense of the association.

These amendments aim to improve the accountability and transparency of condominium associations. The act will take effect upon passage.