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Changes
to Federal Bankruptcy Law
April 2005
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.
RETURN
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Copyright © 2004 Sanibel Property
Management, Inc 
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