Staff Analysis of the Legislation
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HB 410 amends Chapter 3 of Title 44
of the OCGA by adding that no condominium or property owner's association
instrument after July 1, 2017 can impose a capital contribution, start-up fund
assessment, initiation fee, and contribution to capital reserve accounts, or
other types of reserves to exceed 1/12 of the current annual dues. This bill
changes language to suggest that late fees can be paid electronically to the
management company or its agent within 10 days. The management company can
charge an expedited fee of $50 and an additional $25 fee for reprinting. |