Sec. 47-260. Association records. Availability. Loan disclosure and comments. - Connecticut Statutes

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Statutes > Connecticut > Title47 > Chap828 > Sec47-260

      Sec. 47-260. Association records. Availability. Loan disclosure and comments. (a) The association shall keep financial records sufficiently detailed to enable the association to comply with section 47-270. All accounting, financial and other books and records of the association, including, but not limited to, minutes of meetings and voting records of the executive board, shall be made reasonably available by the executive board or a managing agent of the association for examination and copying by any unit owner, or the unit owner's authorized agent, upon the request of such unit owner or agent.

      (b) Notwithstanding any provision of the declaration or bylaws to the contrary, at least fourteen days prior to entering into any loan agreement on behalf of the association, the executive board shall (1) disclose in writing to all unit owners the amount and terms of the loan and the estimated effect of such loan on any common expense assessment, and (2) afford the unit owners a reasonable opportunity to submit written comments to the executive board with respect to such loan.

      (P.A. 83-474, S. 61, 96; P.A. 07-243, S. 7.)

      History: P.A. 07-243 designated existing provisions as Subsec. (a) and amended same by adding provisions re accounting records, books and minutes of meetings and voting records of the executive board, re records to be made available by the board or a managing agent, re copying and re request of unit owner or agent and by making technical changes, and added Subsec. (b) re loan disclosure and comments.

State Codes and Statutes

Statutes > Connecticut > Title47 > Chap828 > Sec47-260

      Sec. 47-260. Association records. Availability. Loan disclosure and comments. (a) The association shall keep financial records sufficiently detailed to enable the association to comply with section 47-270. All accounting, financial and other books and records of the association, including, but not limited to, minutes of meetings and voting records of the executive board, shall be made reasonably available by the executive board or a managing agent of the association for examination and copying by any unit owner, or the unit owner's authorized agent, upon the request of such unit owner or agent.

      (b) Notwithstanding any provision of the declaration or bylaws to the contrary, at least fourteen days prior to entering into any loan agreement on behalf of the association, the executive board shall (1) disclose in writing to all unit owners the amount and terms of the loan and the estimated effect of such loan on any common expense assessment, and (2) afford the unit owners a reasonable opportunity to submit written comments to the executive board with respect to such loan.

      (P.A. 83-474, S. 61, 96; P.A. 07-243, S. 7.)

      History: P.A. 07-243 designated existing provisions as Subsec. (a) and amended same by adding provisions re accounting records, books and minutes of meetings and voting records of the executive board, re records to be made available by the board or a managing agent, re copying and re request of unit owner or agent and by making technical changes, and added Subsec. (b) re loan disclosure and comments.

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State Codes and Statutes

Statutes > Connecticut > Title47 > Chap828 > Sec47-260

      Sec. 47-260. Association records. Availability. Loan disclosure and comments. (a) The association shall keep financial records sufficiently detailed to enable the association to comply with section 47-270. All accounting, financial and other books and records of the association, including, but not limited to, minutes of meetings and voting records of the executive board, shall be made reasonably available by the executive board or a managing agent of the association for examination and copying by any unit owner, or the unit owner's authorized agent, upon the request of such unit owner or agent.

      (b) Notwithstanding any provision of the declaration or bylaws to the contrary, at least fourteen days prior to entering into any loan agreement on behalf of the association, the executive board shall (1) disclose in writing to all unit owners the amount and terms of the loan and the estimated effect of such loan on any common expense assessment, and (2) afford the unit owners a reasonable opportunity to submit written comments to the executive board with respect to such loan.

      (P.A. 83-474, S. 61, 96; P.A. 07-243, S. 7.)

      History: P.A. 07-243 designated existing provisions as Subsec. (a) and amended same by adding provisions re accounting records, books and minutes of meetings and voting records of the executive board, re records to be made available by the board or a managing agent, re copying and re request of unit owner or agent and by making technical changes, and added Subsec. (b) re loan disclosure and comments.