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Glossary of Legislative Terms

CS/SB 1490: Investments by Condominium Associations

GENERAL BILL by Community Affairs ; Pizzo

Investments by Condominium Associations; Requiring condominium associations to maintain a copy of their investment policy statement as an official record; requiring certain association boards to obtain prior approval before investing funds in certain investment products, annually develop an investment policy statement, and select an investment adviser who meets specified requirements; requiring investment advisers to act as association fiduciaries; exempting registered investment advisers from certain provisions relating to contracts for products and services, etc.

Effective Date: 7/1/2021
 Last Action: 4/30/2021 Senate - Died in Rules, companion bill(s) passed, see CS/CS/SB 56 (Ch. 2021-91), CS/CS/SB 630 (Ch. 2021-99)
Bill Text: Web Page | PDF
Senate Committee References:
  1. Regulated Industries (RI)
  2. Community Affairs (CA)
  3. Rules (RC)

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  • Bill History

    Date Chamber Action
    2/22/2021 Senate • Filed
    3/2/2021 Senate • Referred to Regulated Industries; Community Affairs; Rules -SJ 144
    • Introduced -SJ 144
    3/11/2021 Senate • On Committee agenda-- Regulated Industries, 03/16/21, 3:30 pm, 412 Knott Building
    3/16/2021 Senate • Favorable by Regulated Industries; YEAS 8 NAYS 0 -SJ 270
    3/17/2021 Senate • Now in Community Affairs
    3/19/2021 Senate • On Committee agenda-- Community Affairs, 03/24/21, 8:30 am, 37 Senate Building
    3/24/2021 Senate • CS by Community Affairs; YEAS 8 NAYS 0 -SJ 313
    3/25/2021 Senate • Pending reference review under Rule 4.7(2) - (Committee Substitute)
    • CS by Community Affairs read 1st time -SJ 319
    3/29/2021 Senate • Now in Rules
    4/30/2021 Senate • Died in Rules, companion bill(s) passed, see CS/CS/SB 56 (Ch. 2021-91), CS/CS/SB 630 (Ch. 2021-99)

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  • CS/SB 1490, Committee Substitute 1 (Current Bill Version) Posted 3/25/2021 at 9:18 AM

    Bill Text:   Web Page | PDF
    Analyses:   None

    Related Bills (5)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 615 (c1) Community Association Assessment Notices Rodriguez Compare Last Action: 4/27/2021 H Laid on Table; companion bill(s) passed, see CS/CS/SB 56 (Ch. 2021-91), CS/CS/SB 630 (Ch. 2021-99) Track This Bill
    H 867 (c2) Community Associations Shoaf Compare Last Action: 4/26/2021 H Laid on Table; companion bill(s) passed, see CS/CS/SB 630 (Ch. 2021-99), CS/CS/SB 56 (Ch. 2021-91), CS/CS/SB 1966 (Ch. 2021-135) Track This Bill
    H 1005 Investment of Condominium Association Funds Killebrew, Fine Compare Last Action: 4/30/2021 H Died in Insurance & Banking Subcommittee; companion bill(s) passed, see CS/CS/SB 56 (Ch. 2021-91), CS/CS/SB 630 (Ch. 2021-99) Track This Bill
    S 56 (er) Community Association Assessment Notices Rodriguez Compare Last Action: 6/17/2021 Chapter No. 2021-91, companion bill(s) passed, see CS/CS/SB 630 (Ch. 2021-99) Track This Bill
    S 630 (er) Community Associations Baxley Compare Last Action: 6/17/2021 Chapter No. 2021-99, companion bill(s) passed, see CS/CS/SB 56 (Ch. 2021-91), CS/CS/SB 1966 (Ch. 2021-135) Track This Bill

    Citations - Statutes (2)

    Citation Catchline Location in Bill Location In Bill Help
    718.111 The association. Page 2 (pdf)
    718.3026 Contracts for products and services; in writing; bids; exceptions. Page 11 (pdf)

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  • SB 1490, Original Filed Version Posted 2/22/2021 at 9:07 AM

    Bill Text:   Web Page | PDF
    Analyses:   Regulated Industries (Pre-Meeting) 3/15/2021 (pdf)
    Regulated Industries (Post-Meeting) 3/17/2021 (pdf)
    Community Affairs (Pre-Meeting) 3/23/2021 (pdf)
    Community Affairs (Post-Meeting) 3/25/2021 (pdf)

    Related Bills (5)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 1005 Investment of Condominium Association Funds Killebrew, Fine Similar Last Action: 4/30/2021 H Died in Insurance & Banking Subcommittee; companion bill(s) passed, see CS/CS/SB 56 (Ch. 2021-91), CS/CS/SB 630 (Ch. 2021-99) Track This Bill
    H 615 (c1) Community Association Assessment Notices Rodriguez Compare Last Action: 4/27/2021 H Laid on Table; companion bill(s) passed, see CS/CS/SB 56 (Ch. 2021-91), CS/CS/SB 630 (Ch. 2021-99) Track This Bill
    H 867 (c1) Community Associations Shoaf Compare Last Action: 4/26/2021 H Laid on Table; companion bill(s) passed, see CS/CS/SB 630 (Ch. 2021-99), CS/CS/SB 56 (Ch. 2021-91), CS/CS/SB 1966 (Ch. 2021-135) Track This Bill
    S 56 (e1) Community Association Assessment Notices Rodriguez Compare Last Action: 6/17/2021 Chapter No. 2021-91, companion bill(s) passed, see CS/CS/SB 630 (Ch. 2021-99) Track This Bill
    S 630 (c1) Community Associations Baxley Compare Last Action: 6/17/2021 Chapter No. 2021-99, companion bill(s) passed, see CS/CS/SB 56 (Ch. 2021-91), CS/CS/SB 1966 (Ch. 2021-135) Track This Bill

    Committee Amendments (1)

    Amendment Sponsor Filed Last Committee Action Format
    159428 - Amendment
    Delete lines 119 - 275 and insert:     		Community Affairs
    (Pizzo)     		3/24/2021
    8:52 AM
    (Late Filed)     		Replaced by Committee Substitute
    3/25/2021     		Web Page
    PDF

    Committee Votes (2)

    Date Committee Result
    3/16/2021 3:30 PM Regulated Industries 8 Yeas - 0 Nays
    3/24/2021 8:30 AM Community Affairs 8 Yeas - 0 Nays

    Citations - Statutes (3)

    Citation Catchline Location in Bill Location In Bill Help
    718.111 The association. Page 2 (pdf)
    718.112 Bylaws. Page 7 (pdf)
    718.3026 Contracts for products and services; in writing; bids; exceptions. Page 10 (pdf)

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