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A BILL TO BE ENTITLED
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AN ACT
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relating to the availability of a property owners' association's |
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books and records. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 209.005, Property Code, is amended by |
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amending Subsection (a) and adding Subsection (c) to read as |
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follows: |
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(a) A property owners' association shall make the books and |
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records of the association, including financial records, |
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reasonably available to an owner in accordance with Section B, |
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Article 2.23, Texas Non-Profit Corporation Act (Article 1396-2.23, |
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Vernon's Texas Civil Statutes), or a successor to that statute. |
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(c) If a property owners' association subject to Subsection |
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(a) fails to comply with Subsection (a), an owner may seek one or |
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more of the following remedies: |
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(1) a court order directing the property owners' |
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association to provide the required information; |
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(2) a judgment against the property owners' |
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association for a penalty of not more than $1,500; |
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(3) a judgment against the property owners' |
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association for court costs and attorney's fees incurred in |
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connection with seeking a remedy under this section; or |
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(4) a judgment authorizing the owner or the owner's |
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assignee to deduct the amounts awarded under Subdivisions (2) and |
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(3) from any future regular or special assessments payable to the |
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property owners' association. |
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SECTION 2. Subsection (c), Section 209.005, Property Code, |
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as added by this Act, applies only to a property owners' |
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association's failure to comply with Subsection (a), Section |
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209.005, Property Code, on or after the effective date of this Act. |
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A property owners' association's failure to comply with that |
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subsection before the effective date of this Act is governed by the |
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law in effect immediately before the effective date of this Act, and |
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that law is continued in effect for that purpose. |
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SECTION 3. This Act takes effect January 1, 2010. |