Countdown to 1-1-2013

With less than a month to go until HB1237 becomes effective, is your association prepared?  Use the checklist below to ensure you are in compliance and prepared for 2013:

□ Have you revised your Inspection of Records Policy?

• Does it identify what records are available for owner inspection?
• Does it identify what records are not available for owner inspection?
• Does it identify whether those records defined as “discretionary” will be available for owner inspection?
• Does it no longer require that owners show a proper purpose before inspecting records?

□ Has your Inspection of Records Policy been adopted pursuant to your Adoption Policy?

□ Has your board addressed how it will keep and manage emails that relate to action taken outside of a meeting, which are subject to inspection?

□ Have you updated your Collection Policy recently?

• Does it include the obligation of owners to pay management company tracking fees?
• Does it make sure that late fees and interest do not exceed 45% of the underlying assessment?
• Does it provide guidelines for the form of communication with owners?
• Does it provide for owner consent to obtain credit reports?
• Does it reflect what you are actually doing with delinquent accounts?

□ Have you updated your Covenant Enforcement Policy recently?

• Does it address the process and fines for discrete, repetitive violations?
• Does it reflect how you are actually handling violations?

□ Have you updated your Conduct of Meetings Policy recently?

• Does it address actions outside of a meeting?
• Does it identify the proper purposes for executive sessions?

□ Have you updated your other policies since they were originally adopted to reflect changes to the law?