Common interest communities; termination of certain management contracts.

Added page headers, line numbers, and formatting adjustments throughout the document

Renumbered subsection letters (e.g., B became B.C., C became C.D.) to correct section numbering

Replaced 'Patrons Prior to Substitute' with 'Proposed by the House Committee on General Laws on January 30, 2025'

Replaced ex parte inspection petitions with a formal court petition process requiring notice to the management company, though the court can still issue emergency orders without notice if immediate loss of property is threatened.

Updated the Common Interest Community Management Recovery Fund procedures to clarify how shortfalls are reported, how claims are prioritized, and how the Fund balance is maintained above the $5 million threshold.

Clarified the receiver's duties and powers when appointed to manage association funds and records during management company failures.

Changed section lettering from A, B, C, D, E, F, G, H, I, J to A, B, C, D, E, F, G, H, I, J, K to better organize the receiver appointment and insolvency merger provisions.

Created a new Common Interest Community Management Recovery Fund with a $150,000 minimum balance to reimburse associations when managers breach fiduciary duties and cannot pay fees or return funds.

Changed the procedure for Board intervention from an ex parte petition (without notice to the manager) to a formal petition process where the manager receives notice and can present evidence before court action.

Added requirements for receivers to post bonds, prepare detailed accounting reports, and distribute funds in a specific priority order to creditors and claimants.

Established a 30-day period for shareholders to challenge the Board's finding of insolvency before a merger or asset transfer becomes final.

Changed management contract termination language from 'association' to 'unit owners' association' for consistency in terminology.