HB 2466

Requires certain homeowners associations and all condominium unit owners associations to carry fidelity bond coverage, unless owners and board have elected otherwise in the preceeding year.

Status	Chapter Number Assigned
Session	2019 Regular Session
Requested by	(at the request of House Interim Committee on Judiciary for Oregon Condominium Working Group)
Fiscal impact	Has minimal fiscal impact
Revenue impact	No revenue impact

Bill Text

Requires certain homeowners associations and all condominium unit owners associations to carry fidelity bond coverage unless owners and boards vote otherwise.

Original Bill Text

Overview#

Requires certain homeowners associations and all condominium unit owners associations to be audited by certified public accountant at least once every three years if annual assessments exceed $500,000] carry fidelity bond coverage, unless owners and board have elected otherwise in the preceeding year.

Legislative History

Date	Chamber	Action
2019-01-14	H	First reading. Referred to Speaker's desk.
2019-01-18	H	Referred to Judiciary.
2019-03-14	H	Public Hearing held.
2019-03-27	H	Work Session held.
2019-03-29	H	Recommendation: Do pass with amendments and be printed A-Engrossed.
2019-04-01	H	Second reading.
2019-04-02	H	Third reading. Carried by McLane. Passed.
2019-04-04	S	First reading. Referred to President's desk.
2019-04-05	S	Referred to Judiciary.
2019-04-17	S	Public Hearing held.
2019-04-18	S	Work Session held.
2019-04-24	S	Recommendation: Do pass the A-Eng. bill.
2019-04-24	S	Second reading.
2019-04-25	S	Third reading. Carried by Manning Jr. Passed.
2019-04-29	H	Speaker signed.
2019-04-29	S	President signed.
2019-05-06	H	Governor signed.
2019-05-10	H	Chapter 66, (2019 Laws): Effective date January 1, 2020.