TO AMEND THE HORIZONTAL PROPERTY ACT; AND TO REGULATE PROPERTY OWNERS' ASSOCIATIONS.

HB 1453 proposed amendments to Arkansas' Horizontal Property Act to clarify and regulate property owners' associations (POAs). The bill defined "property owners' association" as an incorporated nonprofit organization and expanded the definition of "co-owner" to include POA members. It required POAs to establish bylaws covering administration, meeting procedures, fee structures, and financial transparency, including annual reports to members. Additionally, the bill mandated audits for POAs receiving state funding or providing services typically handled by local governments.