Prohibits conflict of interests by governing board members or management employees of homeowners' associations.

This bill prohibits homeowners' association (HOA) board members, officers, and management employees from engaging in conflicts of interest. It directly affects HOA governing bodies by banning them from: (1) accepting contracts or employment from businesses where they or their immediate family hold a 5%+ interest, (2) using their position for personal financial gain, or (3) participating in decisions involving their financial interests. Key mechanisms include mandatory disclosure of board members' business ties to contractors and requiring the Department of Community Affairs to investigate violations, with authority to remove violators or void related board actions. The law aims to prevent self-dealing in HOA operations, which manage significant community budgets.