55-116. STATEMENT OF ACCOUNT — DISCLOSURE OF FEES. (1) A homeowner’s association or its agent shall provide a property owner and the owner’s agent, if any, a statement of the property owner’s account not more than five (5) business days after receipt of a request by the owner or the owner’s agent received by the homeowner’s association’s manager, president, board member, or other agent, or any combination thereof. The statement of account shall include, at a minimum, the amount of annual charges against the property, the date when said amounts are due, and any unpaid assessments or other charges due and owing from such owner at the time of the request. The homeowner’s association shall be bound by the amounts set forth within such statement of account.
(2) On or before January 1 of each year, a homeowner’s association or its agent shall provide property owners within the association a disclosure of fees that will be charged to a property owner in connection with any transfer of ownership of their property. Fees imposed by a homeowner’s association for the calendar year following the disclosure of fees shall not exceed the amount set forth on the annual disclosure, and no surcharge or additional fees shall be charged to any homeowner in connection with any transfer of ownership of their property. No fees may be charged for expeditiously providing a homeowner’s statement of account as set forth in this section.
History:
[55-116, added 2018, ch. 205, sec. 1, p. 457.]