California 2017-2018 Regular Session Status: Enacted 1 D cosponsors

AB 2912 — Association finances.

Last action — Chaptered by Secretary of State - Chapter 396, Statutes of 2018.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Assembly
  4. ✓
    Passed Senate
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced February 16, 2018. Enacted.

Prognosis

Likely to advance 72% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (1 D).

  • Cleared a recorded vote

    Passed 7 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Summary

(1) Existing law, the Davis-Sterling Common Interest Development Act, limits the personal liability of a volunteer officer or director of an association of a common interest development in excess of the coverage of specified insurance if certain conditions are met. This bill would require the association to maintain fidelity bond coverage, as specified. (2) The act requires a managing agent of a common interest development who accepts or receives funds belonging to the association to, upon written request by the board, deposit those funds into an interest-bearing account in a bank, savings association, or credit union in this state, provided certain requirements are met. This bill would prohibit transfers greater than $10,000 or 5% of an association's total combined reserve and operating account deposits, whichever is lower, without prior written approval from the board. (3) The act requires, unless the governing documents impose more stringent requirements, the association board to review various financial documents and statements on at least a quarterly basis. This bill would require those reviews on a monthly basis. The bill would also require monthly reviews of the check register, monthly general ledger, and delinquent assessment receivable reports and would authorize these requirements to be met when every member of the board, or a subcommittee of the board including the treasurer and at least one other board member, reviews these documents and statements independent of a board meeting if the review is ratified at the board meeting subsequent to the review and that ratification is reflected in the minutes of that meeting.

Bill Text

Action History

  1. Chaptered by Secretary of State - Chapter 396, Statutes of 2018.

  2. Approved by the Governor.

  3. Enrolled and presented to the Governor at 3 p.m.

  4. Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 80. Noes 0. Page 6377.).

  5. In Assembly. Concurrence in Senate amendments pending. May be considered on or after August 16 pursuant to Assembly Rule 77.

  6. Read third time. Passed. Ordered to the Assembly. (Ayes 36. Noes 0. Page 5267.).

  7. Read second time and amended. Ordered to third reading.

  8. (Received pursuant to Joint Rule 61(b)(14).)

  9. From committee: Amend, and do pass as amended. (Ayes 7. Noes 0.) (July 3).

  10. In committee: Hearing postponed by committee.

  11. From committee: Do pass and re-refer to Com. on JUD. (Ayes 11. Noes 0.) (June 12). Re-referred to Com. on JUD.

  12. Referred to Coms. on T. & H. and JUD.

  13. In Senate. Read first time. To Com. on RLS. for assignment.

  14. Read third time. Passed. Ordered to the Senate. (Ayes 76. Noes 0. Page 5168.)

  15. Read second time. Ordered to Consent Calendar.

  16. From committee: Do pass. To Consent Calendar. (Ayes 10. Noes 0.) (May 8).

  17. From committee: Do pass and re-refer to Com. on JUD. (Ayes 7. Noes 0.) (April 25). Re-referred to Com. on JUD.

  18. Referred to Coms. on H. & C.D. and JUD.

  19. From printer. May be heard in committee March 19.

  20. Read first time. To print.

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 121 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (121)

121 members have not signed on to this bill.

Show all 121 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

AB 2912 IRWIN Concurrence in Senate Amendments

Passed 80 Yea · 0 Nay
Party YeaNayPresentNot Voting
Unaffiliated 58000
Democratic 16000
Republican 6000
Total 80000
% of votes cast 100%0%0%0%
How each member voted (80)
Member Party Vote
Acosta — Yea
Bigelow — Yea
Bloom — Yea
Brough — Yea
Kamlager-Dove — Yea
Maienschein — Yea
Mathis — Yea
Nazarian — Yea
Rendon — Yea
Steinorth — Yea
Voepel — Yea
Wood — Yea
Eggman — Yea
Medina — Yea
Gonzalez Fletcher — Yea
Chau — Yea
Rodriguez — Yea
Burke — Yea
Fong — Yea
Salas — Yea
Friedman — Yea
Gloria — Yea
Gray — Yea
Harper — Yea
Holden — Yea
Jones-Sawyer — Yea
Rubio — Yea
Rivas — Yea
Kiley — Yea
Levine — Yea
Low — Yea
Mayes — Yea
McCarty — Yea
Melendez — Yea
Mullin — Yea
Baker — Yea
Chiu — Yea
Chu — Yea
Chávez — Yea
Cooper — Yea
O'Donnell — Yea
Obernolte — Yea
Quirk — Yea
Santiago — Yea
Thurmond — Yea
Ting — Yea
Waldron — Yea
Weber — Yea
Cooley — Yea
Cunningham — Yea
Daly — Yea
Frazier — Yea
Cristina Garcia — Yea
Eduardo Garcia — Yea
Jim Patterson — Yea
Mark Stone — Yea
Travis Allen — Yea
Wendy Carrillo — Yea
Aguiar-Curry, Cecilia M. Democratic Yea
Arambula, Joaquin Democratic Yea
Berman, Marc Democratic Yea
Bonta, Mia Democratic Yea
Caballero, Anna M. Democratic Yea
Calderon, Lisa Democratic Yea
Cervantes, Sabrina Democratic Yea
Gabriel, Jesse Democratic Yea
Gipson, Mike A. Democratic Yea
Grayson, Timothy S. Democratic Yea
Irwin, Jacqui Democratic Yea
Kalra, Ash Democratic Yea
Limón, Monique Democratic Yea
Muratsuchi, Al Democratic Yea
Quirk-Silva, Sharon Democratic Yea
Reyes, Eloise Gómez Democratic Yea
Chen, Phillip Republican Yea
Choi, Steven S. Republican Yea
Dahle, Megan Republican Yea
Flora, Heath Republican Yea
Gallagher, James Republican Yea
Lackey, Tom Republican Yea

Official roll call →

3rd Reading AB2912 Irwin By Stern

Passed 36 Yea · 0 Nay · 4 Other
Party YeaNayPresentNot Voting
Unaffiliated 31004
Democratic 5000
Total 36004
% of votes cast 90%0%0%10%
How each member voted (40)
Member Party Vote
Anderson — Yea
Bates — Yea
Hertzberg — Yea
Hill — Yea
Leyva — Yea
Pan — Yea
Roth — Yea
Wieckowski — Yea
Chang — Yea
Galgiani — Yea
Hueso — Yea
Lara — Yea
Delgado — Yea
Monning — Yea
Mitchell — Yea
Allen — Yea
Beall — Yea
Wilk — Yea
De León — Yea
Portantino — Yea
Atkins — Yea
Glazer — Yea
Hernandez — Yea
Cannella — Not Voting
Dodd — Yea
Bradford — Yea
Moorlach — Yea
Morrell — Yea
Nielsen — Yea
Skinner — Yea
Vidak — Yea
Fuller — Not Voting
Beth Gaines — Not Voting
Bill Berryhill — Not Voting
Mark Stone — Yea
Jackson, Corey A. Democratic Yea
McGuire, Mike Democratic Yea
Nguyen, Stephanie Democratic Yea
Stern, Henry I. Democratic Yea
Wiener, Scott D. Democratic Yea

Official roll call →

Do pass as amended

Passed 7 Yea · 0 Nay
Party YeaNayPresentNot Voting
Unaffiliated 5000
Democratic 2000
Total 7000
% of votes cast 100%0%0%0%
How each member voted (7)
Member Party Vote
Anderson — Yea
Hertzberg — Yea
Monning — Yea
Wieckowski — Yea
Moorlach — Yea
Jackson, Corey A. Democratic Yea
Stern, Henry I. Democratic Yea

Official roll call →

Do pass, but first be re-referred to the Committee on [Judiciary]

Passed 11 Yea · 0 Nay · 2 Other
Party YeaNayPresentNot Voting
Unaffiliated 9002
Democratic 2000
Total 11002
% of votes cast 85%0%0%15%
How each member voted (13)
Member Party Vote
Beall — Yea
Skinner — Yea
Cannella — Yea
Allen — Yea
Galgiani — Yea
Morrell — Not Voting
Dodd — Yea
Roth — Yea
Vidak — Yea
Wieckowski — Not Voting
Beth Gaines — Yea
McGuire, Mike Democratic Yea
Wiener, Scott D. Democratic Yea

Official roll call →

AB 2912 IRWIN Consent Calendar Second Day

Passed 76 Yea · 0 Nay · 2 Other
Party YeaNayPresentNot Voting
Unaffiliated 55002
Democratic 15000
Republican 6000
Total 76002
% of votes cast 97%0%0%3%
How each member voted (78)
Member Party Vote
Acosta — Yea
Bloom — Yea
Brough — Yea
Harper — Yea
Jones-Sawyer — Yea
Kiley — Yea
Mathis — Yea
Nazarian — Yea
Rendon — Yea
Thurmond — Yea
Voepel — Yea
Wood — Yea
Cooper — Yea
Chau — Yea
Chu — Yea
Gloria — Yea
Low — Yea
Mayes — Yea
Medina — Yea
Rodriguez — Yea
Santiago — Yea
Ting — Yea
Gonzalez Fletcher — Yea
Fong — Yea
Salas — Yea
Burke — Yea
Frazier — Yea
Friedman — Yea
Gray — Yea
Holden — Yea
Rubio — Yea
Kamlager-Dove — Yea
Levine — Yea
Maienschein — Yea
McCarty — Yea
Melendez — Yea
Baker — Yea
Bigelow — Yea
Chiu — Yea
Chávez — Yea
Cooley — Yea
Mullin — Yea
O'Donnell — Yea
Obernolte — Yea
Quirk — Yea
Steinorth — Yea
Waldron — Yea
Weber — Yea
Eggman — Yea
Cunningham — Yea
Daly — Yea
Cristina Garcia — Not Voting
Eduardo Garcia — Yea
Jim Patterson — Yea
Mark Stone — Yea
Travis Allen — Not Voting
Wendy Carrillo — Yea
Aguiar-Curry, Cecilia M. Democratic Yea
Arambula, Joaquin Democratic Yea
Berman, Marc Democratic Yea
Bonta, Mia Democratic Yea
Caballero, Anna M. Democratic Yea
Calderon, Lisa Democratic Yea
Cervantes, Sabrina Democratic Yea
Gipson, Mike A. Democratic Yea
Grayson, Timothy S. Democratic Yea
Irwin, Jacqui Democratic Yea
Kalra, Ash Democratic Yea
Limón, Monique Democratic Yea
Muratsuchi, Al Democratic Yea
Quirk-Silva, Sharon Democratic Yea
Reyes, Eloise Gómez Democratic Yea
Chen, Phillip Republican Yea
Choi, Steven S. Republican Yea
Dahle, Megan Republican Yea
Flora, Heath Republican Yea
Gallagher, James Republican Yea
Lackey, Tom Republican Yea

Official roll call →

Subjects

finance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does AB 2912 do?
(1) Existing law, the Davis-Sterling Common Interest Development Act, limits the personal liability of a volunteer officer or director of an association of a common interest development in excess of the coverage of specified insurance if certain conditions are met. This bill would require the association to maintain fidelity bond coverage, as specified. (2) The act requires a managing agent of a common interest development who accepts or receives funds belonging to the association to, upon written request by the board, deposit those funds into an interest-bearing account in a bank, savings association, or credit union in this state, provided certain requirements are met. This bill would prohibit transfers greater than $10,000 or 5% of an association's total combined reserve and operating account deposits, whichever is lower, without prior written approval from the board. (3) The act requires, unless the governing documents impose more stringent requirements, the association board to review various financial documents and statements on at least a quarterly basis. This bill would require those reviews on a monthly basis. The bill would also require monthly reviews of the check register, monthly general ledger, and delinquent assessment receivable reports and would authorize these requirements to be met when every member of the board, or a subcommittee of the board including the treasurer and at least one other board member, reviews these documents and statements independent of a board meeting if the review is ratified at the board meeting subsequent to the review and that ratification is reflected in the minutes of that meeting.
Who sponsors AB 2912?
AB 2912 is sponsored by Irwin, Jacqui (Democratic).
What is the current status of AB 2912?
This bill has been enacted into law. Introduced February 16, 2018. Enacted.
Where can I track AB 2912?
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Last checked for changes 3 months ago · updated continuously

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