A BILL TO BE ENTITLED
AN ACT to authorize the GENeral Assembly to study issues related to homeowners association foreclosure of property where the debt securing the association assessment lien consists of unpaid homeowners association dues or other costs associated with unpaid homeowners association dues.
The General Assembly of North Carolina enacts:
SECTION 1.  The General Assembly may establish a committee to study the issue of foreclosure of property by homeowners associations for unpaid assessments liens based on unpaid homeowners association dues or related fees and charges. The committee may examine alternatives to homeowners association assessment lien foreclosure as a part of its study. The committee may also study issues related to foreclosure of property based on liens for homeowners association assessments, fees, and charges.
SECTION 2.  The committee may make an interim report to the 2011 General Assembly upon its convening in 2012 and may make its final report to the 2013 General Assembly. Each report may include the findings and recommendations of the study, including any legislative proposals.
SECTION 3.  This act is effective when it becomes law.