Your Voice Matters
260,000+ Kentuckians residing in over 175,000 homes located in one of Kentucky’s 2,200+ Homeowner Associations (HOA) are not protected under any existing legislation that establishes standards for the development, operation, or management of their HOA organization.
This umbrella, default, legislation contains consumer protection elements necessary to protect homeowners’ single largest lifetime investment.
Protections like:
- Adds disclosure to a buyer that they are purchasing a Deed Restricted Home including disclosure of an HOA’s Financial Condition.
- Defines HOA Insurance coverage to protect homeowners from HOA liability.
- Establishes Statewide Financial Management and Reporting Standards.
- Adds definitions and standards of Board of Directors’ Powers and Authority.
- Enhances an HOA’s ability to enforce Deed Restrictions to maintain neighborhoods.
- Includes guidelines for an HOA to properly budget finances to support the maintenance of association infrastructure like streets and storm water detention.
- Establishes limits on a Board’s ability to raise dues without homeowner approval.
- Provides a Statewide standard for HOA legal documents to create new HOA’s.
- Provide process for the Revitalization of Defunct Associations.
PLEASE SUPPORT PASSAGE OF KYPCA!
Sign now & show your support!
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