H.B. No. 3871 introduces a new requirement for property owners' associations in Texas by adding Section 209.00501 to Chapter 209 of the Property Code. This section mandates that associations must annually obtain an independent audit of their financial records and provide a copy of the audit to each member. The audit must be conducted by a certified public accountant if stipulated by the association's bylaws, a board vote, or a majority vote of the members present at a meeting. Additionally, it specifies that each member can only cast one vote in such decisions, regardless of the number of lots they own, overriding any contrary provisions in the association's dedicatory instruments.

The bill aims to enhance transparency and accountability within property owners' associations by ensuring that financial records are independently audited and accessible to all members. This legislation will take effect on September 1, 2025, providing associations time to comply with the new requirements.

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