February 26, 2024
HB24-1078
Summary
The bill establishes licensure requirements for business entities that perform community association management (CAM) for common interest communities. The bill makes it unlawful on or after July 1, 2025 for a business to perform community association management duties without a license. The real estate division of DORA will administer the regulatory program for CAMs. To obtain a license, the business entity must demonstrate compliance with certain insurance requirements, designate an individual as the controlling manager responsible for the CAM activities; pay a fee; and obtain criminal history record checks for the controlling manager. DORA will also establish education requirements for controlling managers and employees of the licensed entity who perform CAM on behalf of the entity. The bill also sets forth various grounds for disciplining a licensed entity.
Legislative Updates
- 2024-03-07 / Introduced
House Committee on Finance Refer Unamended to Appropriations - 2024-02-14 / Introduced
House Committee on Transportation, Housing & Local Government Refer Amended to Finance - 2024-01-10 / Introduced
Introduced In House - Assigned to Transportation, Housing & Local Government
This content is updated every Thursday, but is not a comprehensive list of updates. If you have questions regarding a specific piece of legislation, please contact DGS partner, Sarah Kellner.
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