By Park H.B. No. 267
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to auditing records of a condominium regime.
1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-4 SECTION 1. Section 81.209(c), Property Code, is amended to
1-5 read as follows:
1-6 (c) The books and records of a condominium regime must
1-7 comply with generally accepted accounting principles <good
1-8 accounting procedures> and must be audited at least once each year
1-9 by an auditor who is not associated with the condominium regime and
1-10 who is a certified public accountant.
1-11 SECTION 2. The importance of this legislation and the
1-12 crowded condition of the calendars in both houses create an
1-13 emergency and an imperative public necessity that the
1-14 constitutional rule requiring bills to be read on three several
1-15 days in each house be suspended, and this rule is hereby suspended,
1-16 and that this Act take effect and be in force from and after its
1-17 passage, and it is so enacted.