SB865: Bill Text

SB865,6,16 (d) Requirement to update public information. If any information contained in a notice filed under this subsection changes, the association shall file an amended notice under par. (e) to update the information no later than 30 days after the date on which the change occurs.

SB865,6,20 (e) Form and contents of public notices. An association shall file a notice under par. (a) or (b), a renewal notice under par. (c), or an amended notice under par. (d) with the department of financial institutions on a form prescribed by the department under s. 182.01 (7) (c). The notice shall contain all of the following information:

SB865,6,22 1. The name and mailing address of the association and, if applicable, the name and mailing address of any management company for the association.

SB865,6,24 2. The name of the county and the city, village, or town in which the residential planned community is located.

SB865,7,4 3. The name, mailing address, and electronic mail address or daytime telephone number for an individual who is authorized to respond on behalf of the association to requests for copies of the covenants and restrictions and other information and documentation related to the residential planned community.

SB865,7,7 4. If the association posts information related to the residential planned community on an Internet site that is available to the public, the address of the Internet site.

SB865,7,10 (f) Penalty for noncompliance. 1. If an association fails to file a notice required under this subsection, the association may not do any of the following until the association files the required notice:

SB865,7,12 a. Charge a late fee or other fine for any unpaid assessments owed by any residential lot owner.

SB865,7,15 b. Charge a fee in connection with any transfer of ownership of a residential lot that the association would otherwise be authorized to charge under the covenants and restrictions for the residential planned community.

SB865,7,17 2. Any prohibited action taken by an association during a period of noncompliance under this paragraph is void and unenforceable.

SB865,7,22 (4) Notice of association meetings required. The association of a residential planned community shall provide notice of any meeting of the association at least 48 hours before the meeting. Unless the covenants and restrictions for the residential planned community provide otherwise, the association shall provide notice by doing all of the following:

SB865,7,23 (a) Providing written notice of the meeting to all residential lot owners.

SB865,7,25 (b) Sending notice of the meeting to the last-known electronic mail address for each residential lot owner.

SB865,8,2 (c) Sending notice of the meeting by 1st class mail to the last-known post-office address for each residential lot owner.

SB865,8,5 (d) If the association posts information related to the residential planned community on an Internet site that is available to the public, posting notice of the meeting on the Internet site.

SB865,8,8 (e) If the residential planned community has an improved area that is accessible to all residential lot owners, posting notice of the meeting in at least one such area.

SB865,8,15 (5) Limitation on fees for providing documentation. If the association for a residential planned community furnishes copies of the covenants and restrictions or other information and documentation related to the residential planned community upon request by a residential lot owner, the association may not, unless the covenants and restrictions provide otherwise, charge the residential lot owner an amount that exceeds the actual costs of furnishing the information or $50, whichever is less.

SB865,8,23 (6) Failure to pay assessments; notice of suspension of rights. If the covenants and restrictions for a residential planned community authorize the association to suspend certain rights of a residential lot owner for failure to timely pay assessments or other amounts owed to the association, the association may, unless the covenants and restrictions provide otherwise, suspend those rights only after the association provides the residential lot owner a written notice identifying the rights the association intends to suspend and the actions the residential lot owner may take to avoid that suspension.

SB865,9,3 (7) Payoff statements; limitation on fees. (a) Definition. In this subsection, “payoff statement” means a document that sets forth the total amount necessary, as of a date specified in the document, to satisfy all monetary obligations, including unpaid assessments, owed by a residential lot owner to the association in connection with a particular residential lot.

SB865,9,8 (b) Request for payoff statement; deadline. A residential lot owner may submit to the association a written request for a payoff statement for a specified date not more than 30 days after the request is submitted. The association shall provide a payoff statement to the residential lot owner within 10 business days after the request is submitted.

SB865,9,13 (c) Fees. 1. Except as provided under subds. 2. and 3., an association shall provide one payoff statement requested under par. (b) with respect to a residential lot without charge during any 2-month period. The association may charge a fee not to exceed $25 for each additional payoff statement requested for the residential lot during that 2-month period.

SB865,9,16 2. An association may charge a fee for providing the first payoff statement within a 2-month period described under subd. 1. if the association does all of the following:

SB865,9,18 a. Holds a meeting at which the association will consider whether to establish the fee and set the amount of the fee.

SB865,9,20 b. Provides written notice of the meeting held under subd. 2. a. as provided under sub. (4).

SB865,9,22 c. Adopts a written resolution at the meeting held under subd. 2. a. to establish the fee or set the amount of the fee, or both.

SB865,9,25 d. No later than 48 hours after adopting the resolution under subd. 2. c., provides written notice to residential lot owners that the association established the fee or set the amount of the fee, or both.

SB865,10,3 3. If an association establishes a fee under subd. 2., the association may increase the amount of the fee only by following the procedure under subd. 2. a. to d.

SB865,10,6 4. An association's failure to provide a notice required under subd. 2. b. or d. does not affect the right of the association to charge the fee established or increased under subd. 2. or 3.

SB865,10,10 (d) Damages. If an association to which a request is submitted under par. (b) does not provide a payoff statement within the deadline described under par. (b), the association is liable to the residential lot owner for any actual damages caused by the association's failure or $350, whichever is less.

SB865,3 Section 3 . Nonstatutory provisions.

SB865,10,12 (1) Statewide filing system.

SB865,10,14 (a) The department of financial institutions shall establish the statewide searchable filing system under s. 182.01 (7) (a) no later than January 1, 2023.

SB865,10,19 (b) If the department of financial institutions establishes the statewide searchable filing system under s. 182.01 (7) (a) before January 1, 2023, the department shall notify the legislative reference bureau of that establishment. The legislative reference bureau shall publish a notice in the Wisconsin Administrative Register that specifies that date.

SB865,4 Section 4 . Initial applicability.

SB865,10,21 (1) Public notices regarding associations; penalty for noncompliance.

SB865,10,23 (a) Except as provided under par. (b), the treatment of s. 710.18 (3) (f) first applies to a fee, late fee, or other fine charged on the effective date of this paragraph.

SB865,11,3 (b) If the fee, late fee, or other fine described under s. 710.18 (3) (f) is authorized under covenants and restrictions, as defined in s. 710.18 (1) (c), that contain provisions inconsistent with the treatment of s. 710.18 (3) (f), that treatment first applies on the day on which the covenants and restrictions are extended, modified, or renewed, whichever occurs first.

SB865,5 Section 5. Effective dates. This act takes effect on the day after publication, except as follows:

SB865,11,9 (1) Statewide filing system; public notices regarding associations. The treatment of s. 710.18 (3) and Section 4 (1 ) of this act take effect on the date specified in the notice published in the Wisconsin Administrative Register under Section 3 (1) (b) of this act or on January 1, 2023, whichever is earlier.

SB865,11,10 (End)