HOUSE BILL 741

Sponsored By:

Delegate Braveboy

Entitled:

Common Ownership Communities - Fidelity Insurance - Indemnification

Synopsis:

Altering the scope of indemnification provided by fidelity insurance that the board of directors or other governing body of a cooperative housing corporation, council of unit owners or other governing body of a condominium, or board of directors or other governing body of a homeowners association is required to purchase; requiring a management company that provides specified services to a cooperative housing corporation, condominium, or homeowners association to purchase specified fidelity insurance; etc.

History by Legislative and Calendar Date

House Action

2/8

First Reading Environmental Matters

Hearing 3/1 at 1:00 p.m.

3/12

Unfavorable Report by Environmental Matters

Senate Action

No Action

Bill indexed under the following Subjects:

Condominiums

Cooperative Associations

Crimes and Punishments -see also- Penalties and Sentnc; etc.

Fraud -see also- Forgery

Homeowners Associations

Housing -see also- Apartments; Condos; Mobile & Manuf Homes

Insurance -see also- Health Ins; MAIF; Motor Vehicle Ins

Liability -see also- Good Samaritan

Records -see also- Land Records; Vital Records

Bill affects the following Statutes:

Corporations and Associations

( 5-6B-18.6 )

Real Property

( 11-114.1 , 11B-111.6 )

Documents

Bill Text: First Reading, Third Reading, Enrolled

Fiscal and Policy Note: Available

Amendments: None offered

Committee Votes :

House

Environmental Matters