CONDO/CICAA: BUDGETS; MEETINGS

Amends the Common Interest Community Association Act. Provides that each member of a common interest community association shall receive through a prescribed delivery method, at least 25 (instead of 30) days but not more than 60 days prior to the adoption by the board, a copy of the proposed annual budget. Makes a similar change in the Condominium Property Act. Further amends the Condominium Property Act. Replaces language specifying when a portion of a noticed board meeting may be closed with language providing that the board may close any portion of a noticed meeting or meet separately from a noticed meeting to: (A) discuss litigation when an action against or on behalf of the particular association has been filed and is pending in a court or administrative tribunal, or when the board of managers finds that such an action is probable or imminent; (B) discuss the appointment, employment, engagement, or dismissal of an employee, independent contractor, agent, or other provider of goods and services; (C) interview a potential employee, independent contractor, agent, or other provider of goods and services; (D) discuss violations of rules and regulations of the association; (E) discuss a unit owner's unpaid share of common expenses; or (F) consult with the association's legal counsel.