2015-2016 Hawaii Core Part B: Condominiums Governance & Legislative Update
In this course, you will have the opportunity to consider condominiums from a governing standpoint. Many laypersons who have been elected to Boards and charged with governing condominium associations tend to have very little experience with fiduciary matters and do not understand their fiduciary duty to the homeowners. This lack of experience and understanding can create governance problems.
This course reviews what constitutes the “association” what its responsibilities are. In addition, we will look at how Hawaii law and legal documents related to the project give the association certain rights over individual owners but also impose certain obligations on the association to act in the best interest of its unit owners.
This 4-hour course is Part B of the Hawaii Real Estate Commission’s 8-hour mandatory core course for 2015 and 2016.
Course highlights include:
- Creation of a condominium’s governing structure
- Authority and responsibility of the association and its Board of Directors
- The types of meetings related to condominium governance
- Requirements related to the association’s records, and the procedures to access these records
- Budgets and reserves and how assessments are authorized and calculated
- Consequences when an assessment is not paid, and the right of the association to collect
- Mediation, arbitration, and litigation for dispute resolution
- Regulations related to pets, smoking, parking stalls, unit modifications
- A look at issues related to aging in place in a condominium setting
- New legislation effecting the real estate industry
- Activities and examples to seal in the new information and frame it in everyday context.