Governor Signs Bills Protecting Members Of Homeowner Associations
Sacramento, CA — Homeowner associations are facing new rules over how they operate after three new bills were signed into law by Governor Arnold Schwarzenegger.
The governor put his signature on a bill that will prevent homeowners´ associations from foreclosing on a home when a homeowner owes less than $1,800 in assessments.
The new law comes after a retired couple living in Calaveras County drew headlines last year when they lost a $300,000 home after the association ordered a foreclosure sale over $120 in back dues.
A second bill signed by the governor yesterday will make associations use secret ballots when electing board members or imposing levy increases.
The third bill signed by the governor will require homeowner associations to make financial and other important records available to members.