AN ACT RELATING TO PROPERTY -- CONDOMINIUM LAW

HB 7609 amends Rhode Island's Condominium Law to allow pre-1982 condominium associations to voluntarily adopt modern governance rules for future matters, without altering their existing legal structures. Specifically, it extends key provisions - including the new reserve study requirement in Section 34-36.1-3.22 - to all pre-1982 condominiums for future actions, such as planning maintenance for common areas costing $20,000+ to repair. The bill requires associations to establish a reserve study detailing future maintenance needs and a dedicated reserve account for those costs, managed by the executive board. This applies only to prospective governance, leaving all prior actions, declarations, and bylaws intact. It directly affects older condominium associations seeking updated governance frameworks while preserving their original legal foundation.