By PR CAI-CLAC
Senate Bill 434 (Archuleta), jointly sponsored by Community Associations Institute’s California Legislative Action Committee and the California Association of Community Managers will provide protection for community associations when changing management companies.
The bill will require managers to turn over association records within thirty days after they are notified that the association will be changing management companies. The bill also makes clear that the records must be provided even if there is a dispute over the termination or over management fees. However, managers won’t be required to turn over proprietary information, or to provide documents that are not reasonably available.
CAI-CLAC recognizes that the records maintained by a managing agent belong to the association and should be turned over promptly to new management. SB 434 demonstrates CAI’s support of reasonable regulations to protect and promote healthy and vibrant community associations.
You can read SB 434 on the California State Legislator’s website here. Please check our Legislative Session Hot Bills for constant updates on pending legislation. As the legislative session heats up, we will update our website with draft letters to contact your representative and other key legislators to encourage them to support SB 434 here.