Revision: March 27, 2015, midnight
HB 161 – AS INTRODUCED
2015 SESSION
05/06
HOUSE BILL 161
AN ACT relative to the termination of a management contract by a condominium association.
SPONSORS: Rep. Infantine, Hills 13
COMMITTEE: Commerce and Consumer Affairs
This bill allows a unit owners’ association to cancel a contract with a managing agent irrespective of the terms of the management agreement.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
15-0505
05/06
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Fifteen
AN ACT relative to the termination of a management contract by a condominium association.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 New Section; Condominium Act; Termination of Management Contract. Amend RSA 356-B by inserting after section 46-a the following new section:
356-B:46-b Termination of Management Contract. Irrespective of the termination period or clause contained in a management agreement, the unit owners’ association, acting through its board of directors or legal representative, may cancel without cause or penalty to the association, any contract with a managing agent upon not less than 90 days prior written notice sent by first class mail, facsimile, or electronically to the managing agent.
2 Effective Date. This act shall take effect January 1, 2016.