Recodification and Investment Bills Conference Committee Hearing

There is a hearing on Friday, April 22, 2005 at 10:30 a.m. in room 016 on some bills of interest to community associations before a Conference Committee.

The hearing notice discusses the following bills of interest to community associations:

SB 1132 HD1 This is the second part of the Recodification. Although there are issues with the Recodification, it is better than the current law.

House Conferees: Representatives Hiraki/Takamine, Co-Chairs; Wakai, Fox
Senate Conferees: Senators Menor, Chair; Taniguchi, Co-Chair; Baker, Espero, Hogue

SB1137 HD1 This bill would eliminate the prohibition on purchasing CDs through a securities broker from the Recodification. The prohibition was added at the last minute and would make most associations immediately in violation of the law upon the effective date of the Recodification. There is no good reason for associations to be limited in the ways it acquires its federally insured investments. The bill has a defective effective date of July 1, 2010, so it will be necessary to fix that.

House Conferees: Representatives Hiraki/Takamine, Co-Chairs; Wakai, Fox
Senate Conferees: Senators Menor, Chair; Espero, Hogue

AS THIS IS A DECISION MAKING MEETING ONLY, NO PUBLIC TESTIMONY WILL BE ACCEPTED. You can of course contact any of the conferees.