As a result of the new legislation that passed, in three different bills, for each of your condominium associations you need to deal with the following:

1. Disclosure Requirement Fees.  If your association currently charges or intends to charge a fee for complying with some or all of the disclosure requirements under Sec. 703.33 Wis. Stat., despite the $50 language in the statute amendment, we recommend that the association do all of the following:
   1. Provide written notice to the all unit owners at least 48 hours before any meeting to consider any of the following:
      1. Establishing or increasing the fee;
      2. Entering into or modifying a management contract that does any of the following:
         1. Allows the manager to begin charging the fee; or
         2. If the manager already charges the fee, allows the manager to increase the amount of the fee.
   2. Adopt a written resolution at a unit owner meeting to take the actions above; and
   3. Send out written notice of the resolution to all unit owners within 48 hours of its adoption.
2. Executive Summary.  Update the Executive Summary to provide for the new requirements under Sec. 703.33(1) Wis. Stat. by:
   1. Adding to the Executive Summary the last date it was prepared or revised; and
   2. Adding to the reserve section of the Executive Summary the amount of the reserves on the date it was last prepared or revised.