Bill Text: NH HB159 | 2019 | Regular Session | Introduced
Bill Title: Relative to condominium association unit owner payments in arrears.
Spectrum: Moderate Partisan Bill (Republican 5-1)
Status: (Introduced - Dead) 2019-02-28 - Inexpedient to Legislate: Motion Adopted Regular Calendar 288-49 02/28/2019 House Journal 7 P. 47 [HB159 Detail]
Download: New_Hampshire-2019-HB159-Introduced.html
HB 159 - AS INTRODUCED
2019 SESSION
19-0103
10/08
HOUSE BILL 159
AN ACT relative to condominium association unit owner payments in arrears.
SPONSORS: Rep. Webb, Rock. 6; Rep. Pantelakos, Rock. 25; Rep. D. Thomas, Rock. 5; Rep. Crawford, Carr. 4; Sen. Reagan, Dist 17; Sen. Carson, Dist 14
COMMITTEE: Commerce and Consumer Affairs
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ANALYSIS
This bill allows for the budget of a condominium unit owners association to collect additional operating costs resulting from owners in arrears.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
19-0103
10/08
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Nineteen
AN ACT relative to condominium association unit owner payments in arrears.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 New Paragraph; Condominium Act; Budgets and Special Assessments; Arrearages. Amend RSA 356-B:40-c by inserting after paragraph II the following new paragraph:
II-a.(a) The board of directors may establish a special account in the budget to cover additional operating costs as a result of unit owner arrearages.
(b) If the board of directors establishes a budget that includes any costs or reserves that are intended to cover arrearages, that amount shall be considered a special assessment, and subject to use restrictions as described in this section. The board of directors may keep a balance in this account for the purpose of paying costs associated with arrearages or legal expenses incurred as a result of arrearages owed to the association.
(c) All arrearages charged on behalf of a unit owner shall be kept as a separate line item in the budget. As payments are collected, such payments shall be repaid to the association and deposited into the special account. The board of directors shall credit any repayment by an owner in arrears, along with any fines, late fees, or assessments, to the special account.
(d) Any cost associated with collecting the amounts in arrears, including attorneys fees, shall be charged to the owner that is in arrears.
2 Effective Date. This act shall take effect 60 days after its passage.