Adopted

AMENDMENT NO 1 PROPOSED TO

Cmte Sub for House Bill No.  636

BY: Representative Yancey

AMEND on line 22 by deleting the comma after the word "bank" and inserting the word "or" and on line 23 by deleting the words ", or credit union" after the word "association".

AMEND FURTHER on line 25 by deleting the comma after the word "bank" and inserting the word "or" and on lines 25 and 26 by deleting the words ", or credit union" after the word "association".

     AMEND FURTHER on line 35 and 36 by deleting the comma after the word "bank" and inserting the word "or" and by deleting the words ", or credit union" after the word "association".

AMEND FURTHER by inserting the following new subsection (4) after line 61 and renumbering the succeeding subsections:

     "(4)  Before every regular meeting of the homeowners' association and any other time upon request of the association, the managing agent shall provide to the association all of the information described in Section 2 of this act."

AMEND FURTHER the title on line 9 by inserting the following language after the semicolon:  "TO REQUIRE THE MANAGING AGENT TO PROVIDE TO THE HOMEOWNERS' ASSOCIATION CERTAIN FINANCIAL INFORMATION RELATING TO THE FUNDS OF THE ASSOCIATION BEFORE EVERY REGULAR MEETING AND UPON REQUEST OF THE ASSOCIATION;".