Owners associations; membership; requirements; residence; effective date.

Board members must now be current recorded owners of lots in the real estate development, rather than just members of the association.

A new requirement mandates that owners association board members must physically reside in the real estate development they govern.

The previous requirement for board members to be record owners was updated to specify they must be 'current' recorded owners.

Added Senate Chamber disposition headers and amendment motion text indicating the bill is being amended on the Senate floor.

Changed the document title from 'COMMITTEE SUBSTITUTE' to 'FLOOR AMENDMENT' to reflect the bill's current legislative stage.

Removed the original House Committee Substitute header and page numbering format, replacing it with Senate-specific tracking information.

Added a note indicating the amendment is 'Untimely' and that the 'Amendment Cycle Extended', which is a procedural status change rather than a policy change.

Added a requirement that owners association board members must physically reside in the real estate development they govern.

Clarified that board members must be current recorded owners of lots in the development after the developer relinquishes control.

Updated the effective date of the act from an unspecified or previous date to November 1, 2026.

Changed the document reference number from 16213 to 16915 to reflect the new committee substitute version.

Removed the requirement that board members must physically reside in the development for at least ten (10) months per year.

Added a new Section 2 explicitly stating the act becomes effective on November 1, 2026.

Removed the detailed definition of 'physically reside' regarding tax purposes and the 10-month aggregate time requirement.

Updated the bill title to remove the reference to the 10-month residency requirement.

The effective date of the law was changed from November 1, 2025, to November 1, 2026, delaying when the new board member requirements take effect.

The bill title and description were updated to reflect the correct sponsor names and session details after passing both legislative chambers.