New Hampshire Revised Statutes 356-B:40-a – Managing Agent and Contractors; Disclosure of Fees; Qualifications
Current as of: 2023 | Check for updates
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I. If the unit owners’ association or the board of directors has delegated certain powers and duties to a managing agent, the managing agent shall disclose any referral fees received from contract work performed on behalf of the association to the board of directors prior to the next regularly scheduled board meeting, unless the terms of any referral fees are disclosed in the managing agent’s contract with the unit owners’ association, in which case disclosure of fees actually received shall not be required.
II. The managing agent also shall disclose to the board of directors the amount and purpose of any fees, other than maintenance fees, received from a unit owner, unless the terms of any such fees are disclosed in the managing agent’s contract with the unit owners’ association, in which case disclosure of fees actually received shall not be required.
III. Any contractor licensed by the state of New Hampshire who performs work for a unit owner shall disclose on the bill any referral fee paid by the contractor.
II. The managing agent also shall disclose to the board of directors the amount and purpose of any fees, other than maintenance fees, received from a unit owner, unless the terms of any such fees are disclosed in the managing agent’s contract with the unit owners’ association, in which case disclosure of fees actually received shall not be required.
Terms Used In New Hampshire Revised Statutes 356-B:40-a
- Contract: A legal written agreement that becomes binding when signed.
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
III. Any contractor licensed by the state of New Hampshire who performs work for a unit owner shall disclose on the bill any referral fee paid by the contractor.