Provider: #0000811
Course: #9631710

SB 4D includes significant obligations relating to building inspections and reserve funding and boards are required to comply with the 2022 law by the statutory deadlines. Yet SB 4D is somewhat complicated and will need to be studied, digested and fully understood. Join Becker attorneys Scott Kiernan and Yeline Goin for this class webinar that will address these nuanced issues and answer directors’ and managers’ questions including:
• We had an engineering report performed in the last two years. Will this count as our milestone inspection?
• Can members still waive reserves for painting and paving?
• Can we no longer have pooled reserves?
• What if the reserve company we have doesn’t have an engineer or architect on staff?
• We have a monetary cap in our governing documents on how much we can increase our budget. What now?
• What if all these costs increase our assessments by more than 15% of the prior year’s assessments?
• What if our members simply cannot pay to fund these new reserves or the repairs outlined in the Milestone Inspection?
• What are the potential penalties under this 2022 law for being in breach of one’s fiduciary duties?