In the wake of the 2021 Surfside Condominium collapse, Florida lawmakers enacted sweeping reforms to enhance safety, transparency, and accountability within condominiums and cooperatives. Most recently, Florida House Bill 913...more
The Maryland General Assembly’s 2025 legislative session saw the introduction of over 3,200 bills, with several new and impactful laws passing that will affect community associations....more
We are now a year into the effective date of what is colloquially known as the Structural Integrity Act (Act). The law combines two important obligations condominium associations or cooperatives must now adhere to, inspection...more
As we enter the last quarter of 2024, we want to again remind our New Jersey community association clients to review whether their buildings require structural inspections pursuant to the new Structural Integrity Law...more
Historically, condominiums have been required to obtain consent from 80% of the unit owners before an amendment could be made to the Declaration. This new law lowers the threshold requirement to written approval from 66 2/3%...more
We are now halfway through 2024 and we want to again remind our community association clients to check their reserve study status to ensure compliance with the January 8, 2024 law relating to reserve studies and reserve...more
The Federal Deposit Insurance Corporation (“FDIC”) Board held an open meeting on Tuesday to receive the semiannual update on the Deposit Insurance Fund (“DIF”) Restoration Plan. As we previously wrote last year, the FDIC...more
COVID-19’s effect on the economy does not discriminate. Business activity has slowed down significantly for many companies, and even more drastically in certain sectors. Some of the industries that have been hit the hardest...more
The Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) recently published a notice of proposed rulemaking (Proposed Regulations) regarding the computation of life insurance reserves and the process...more
Federal Reserve, OCC, FCA, FHFA and FDIC Adopt Joint Final Rule on Swap Margin Requirements - On October 22, the Office of the Comptroller of the Currency (the "OCC"), the Federal Reserve Board (the "Board"), the Farm...more
Seven months after releasing its BitLicense proposal, the State of New York has published substantial revisions. Like the original version, the revised regulations apply more broadly than federal regulations and require many...more
NAIC’s Executive Committee met at NAIC’s annual meeting in Louisville, Kentucky on August 16 and 17, 2014. The Executive Committee furthered its action on reserve requirements for captive reinsurers and adopted the “XXX/AXXX...more
Fed Issues Report on the Economic Well-Being of U.S. Households - On August 7, the Fed provided a snapshot of the self-perceived financial and economic well-being of U.S. households and the issues they face, based on...more