Sec.8-214h-13. Procedures for carrying charge changes

(a) Each Board of Directors shall mail a written notice to all residents at least 30 days before the meeting date, stating that a change in the carrying charges and the methods for computing such carrying charges will be discussed at its meeting (include the proposed change, the date, time and location of the meeting), and may result in an adjustment in the carrying charge.

(b) The written notice shall advise residents that they may view any documents supporting the proposed carrying charge change which will be on file at the office of the Board of Directors.

(c) Within 15 days after receipt of the Board of Directors recommended carrying charge change, the Commissioner shall approve, disapprove, or request modification of the proposed carrying charge change or any portion thereof.

(d) If the carrying charge change is approved by the Commissioner, the Board of Directors must then give the residents at least 30 days written notice prior to the effective date of the carrying charge change.

(Effective August 18, 1988)