HRS §421I-8
Notice required before raising shareholder fees
The board must tell shareholders in writing about any increase in fees for shared building costs at least 30 days before it takes effect. This section defines what those shared fees are.
condominium associations
The statute, as written — Notification of assessment increases
(a) The board of directors shall notify the shareholders in writing of any increase in assessments for common expenses, at least thirty days prior to the increase. (b) As used in this section, "assessments for common expenses" means any amounts collected from shareholders pursuant to the terms of the corporation's bylaws, articles of incorporation, or proprietary leases, for the operation, maintenance, management, repair, replacement, and improvement of the land, buildings, and any other real or personal property owned or leased by the corporation.
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