CAI Fast Tracks - 04/18/2005--Bankruptcy Legislation Will Help Associations Collect Assessments

Here's an announcement from the Community Associations Institute. If you scroll down you get to this:

Legislation Will Help Associations Collect Assessments

After eight years of battles on Capitol Hill, the U.S. Senate and House of Representatives have passed bankruptcy reform legislation. The new law will go into effect 180 days after President Bush signs the bill into law—which is expected to happen in the next couple of weeks. The legislation contains CAI language permitting community associations to collect post-petition assessments, meaning associations will be able to collect assessments after a homeowner files for bankruptcy. We will provide members with the effective date of the new law and comprehensive information in the near future.
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I confess that I did not know this was in the bankruptcy bill. It seems to be a significant change and one that the activists might find distressing.