As I previously blogged on May 17, 2018, as of July 1, 2018 homeowners in pre-CCIOA communities are now permitted to veto proposed association budgets. So, what does this mean specifically?
Previously, only associations subject to CCIOA were subject to the following relating to annual budgets:
Currently, the requirements above apply to both CCIOA and pre-CCIOA communities. In addition, regardless of the date of formation of a community, a copy of the proposed budget can now be posted to the association’s website in lieu of mailing (but notice of the meeting must be sent to the owners as specified in the Bylaws).
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