Mississippi House Bill 636 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on June 9 2020 - 100% progression
Action: 2020-06-09 - Died In Committee
Text: Latest bill text (Engrossed) [HTML]

An Act To Regulate Managing Agents Of Homeowners' Associations Regarding Their Deposit And Management Of Association Funds; To Provide Certain Definitions For The Act; To Require Transfers Of Funds Above A Certain Amount To Be Authorized By Prior Written Board Approval; To Prohibit The Managing Agent From Comingling The Funds Of The Association With The Managing Agents Own Money Or With The Money Of Others That The Managing Agent Receives Or Accepts; To Provide That Currently Comingled Funds Shall Be Separated By A Certain Date; To Require The Managing Agent To Provide To The Homeowners' Association Certain Financial Information Relating To The Funds Of The Association Before Every Regular Meeting And Upon Request Of The Association; To Provide The Board Of A Homeowners' Association To Conduct Certain Periodic Financial Reviews; To Require Homeowners' Associations To Maintain Fidelity Bond Coverage For Its Directors And Officers; To Provide That If The Association Uses A Managing Agent Or Management Company, The Association's Fidelity Bond Coverage Shall Additionally Include Dishonest Acts By That Person Or Entity And Its Employees; To Provide That The Bond Requirement Shall Not Apply If A Majority Of The Members Of The Association Vote Not To Have It; And For Related Purposes.

Homeowners' associations; regulate managing agents of and require financial reviews by.

Rep. Lee Yancey [R]

2020-03-04 - House - House Passed As Amended (Y: 112 N: 4 NV: 5 Abs: 0) [PASS]

Date	Chamber	Action
2020-06-09	Senate	Died In Committee
2020-06-02	Senate	DR - TSDPAA: JA To BF
2020-05-12	Senate	Referred To Judiciary, Division A;Business and Financial Institutions
2020-03-06	House	Transmitted To Senate
2020-03-04	House	Passed As Amended
2020-03-04	House	Amended
2020-03-04	House	Committee Substitute Adopted
2020-02-25	House	Title Suff Do Pass Comm Sub
2020-02-06	House	Referred To Banking and Financial Services

Type	Source
Summary	https://billstatus.ls.state.ms.us/2020/pdf/history/HB/HB0636.xml
Text	https://billstatus.ls.state.ms.us/documents/2020/html/HB/0600-0699/HB0636IN.htm
Text	https://billstatus.ls.state.ms.us/documents/2020/html/HB/0600-0699/HB0636CS.htm
Text	https://billstatus.ls.state.ms.us/documents/2020/html/HB/0600-0699/HB0636PS.htm
Amendment	https://billstatus.ls.state.ms.us/documents/2020/html/ham/HB0636_H_(Cmte_Sub)_Amend_01.htm
Roll Call	https://billstatus.ls.state.ms.us/2020/pdf/votes/house/0580039.pdf