Proposed Legislation in the Maryland General Assembly Would Require Common Ownership Communities To Register Annually with the State

Bill 1061 in the Maryland House of Delegates would require common ownership communities — including residential¬†condominiums, homeowner associations and cooperatives — to register each year with the Maryland Department of Assessments and Taxation.¬† The community would be required to provide (1) the name, address and county in which it is located; (2) the number and type of units; (3) proof of registration with the county if required in that jurisdiction; (4) the name and contact information for each officer or member of the board of directors or other governing body, the property manager, and any¬†attorney; (5) a statement as to fidelity insurance maintained; (6) a statement as to reserve studies and current reserve balances; (7) a statement as to grievance procedures; and (8) any other information that the Department may require.