Source: http://www.wvlegislature.gov/Bill_Status/bills_text.cfm?billdoc=hb4382%20intr.htm&yr=2012&sesstype=RS&i=4382
Timestamp: 2018-03-19 07:51:12
Document Index: 610188351

Matched Legal Cases: ['§36', '§36', '§36', '§36', '§36', '§36']

HB 4382 Text
Introduced Version House Bill 4382 History
H. B. 4382
(By Delegates Lawrence, Kump, Skaff, Householder,
Howell and Rowan)
A BILL to amend and reenact §36B-1-203 of the Code of West Virginia, 1931, as amended; and to amend said code by adding thereto a new section, designated §36B-3-120, all relating to homeowners' association fees.
That §36B-1-203 of the Code of West Virginia, 1931, as amended, be amended and reenacted; and that said code be amended by adding thereto a new section, designated §36B-3-120, all to read as follows:
(2) Provides, in its declaration, that the annual average common expense liability of all units restricted to residential purposes, exclusive of optional user fees and any insurance premiums paid by the association, may not exceed $300 as adjusted pursuant to section 1-114 one hundred fourteen of this article (adjustment of dollar amounts), it is subject only to sections 1-105 one hundred five (separate titles and taxation), 1-106 one hundred six (applicability of local ordinances, regulations and building codes) and 1-107 one hundred seven (eminent domain), all of this article, and section one hundred twenty, article three of this chapter, unless the declaration provides that this entire chapter is applicable.
§36B-3-120. Homeowners' association fees.
Homeowners' annual dues, fees and assessments shall be deposited into an account held in trust in the name of the subdivision homeowners' association. Copies of all bank statements with regard to this trust account shall be made available to each homeowner upon request. The declaration shall contain the bank which holds the trust account.
NOTE: The purpose of this bill is to require homeowners fees to be held in a trust account and require the designated bank be referenced in the declaration.
§36B-3-120 is new; therefore, it has been completely underscored.