[§421I-8]  Notification of assessmentincreases.  (a)  The board of directors shall notify theshareholders in writing of any increase in assessments for common expenses, atleast thirty days prior to the increase.

(b)  As used in this section, "assessmentsfor common expenses" means any amounts collected from shareholderspursuant to the terms of the corporation's bylaws, articles of incorporation,or proprietary leases, for the operation, maintenance, management, repair,replacement, and improvement of the land, buildings, and any other real orpersonal property owned or leased by the corporation. [L 1993, c 282, pt of §1]