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November 9, 2009
What Are The Changes to the Davis Stirling Act Coming in 2010?
The legislative year is essentially over with regard to bills that will be signed, vetoed, die, or be resurrected uncharacteristically, at least as to changes in the Davis Stirling Act. There are some changes which have already been incorporated into THE DAVIS STIRLING ACT IN PLAIN ENGLISH, my best selling publication. This book covers the Act, explanations of how laws came about and how they shake down in the process of implementation, and what they mean - in plain English. And this year I have added forms to the book, including the assessment and reserve study worksheet, the statutory collections policy, and the brand new "Index" for Disclosure Items that must go out with disclosure packages sent by HOA and Condo Associations beginning in 2010. This new index "reorders" things in a way I would not have chosen, but what the heck, at the least it will provide one law that "dictates" what should be included in the annual disclosure package. There are not a lot of places you can go to find that out other than my Condoguru website.
I will soon be updating the website "Disclosure Checklist" and forms on my website - however, I hesitate to do it too soon as people tend to get confused when new laws are incorporated into current requirements. So look for that to happen by December sometime, to be ready for the turnover of the new year.
In the meantime, you should know that besides the new "Disclosure Index" which becomes a requirement next year, there are some changes to the "Assessment and Reserve Study Worksheet (form). HOAs and Condo associations will have to disclose the percentage of interest it expects to get on CID funds and also the inflation rate it has used in calculations for the coming year.
Other addititons:
**The section on what HOAs can and cannot do with regard to low-water-use landscaping has been expanded.
**The notice requirements for electronic notice just got more sophisticated as to the form of consent that is required before the HOA or Condo association can use email as a form of notification. There has to be an "electronic signature" and "unrevoked consent". Compliance with these things are not easy to figure out unless you have help trailing through the maze of applicable laws which fall outside the Davis Stirling Act but are referenced within it.
Anyway, the Davis Stirling Act in Plain English is ready for 2010! And available at the Guru website on the publications page and the Webstore. And if you act quickly, you may be able to beat the price increase that is going into effect any day now (as soon as my web person can get it up on the site).
Posted by Beth Grimm at November 9, 2009 10:46 AM