May 9, 2021

Volume XI, Number 129

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May 07, 2021

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Pending Legislation Limiting Collection

Although CAI-LAC has received word that both houses of the Legislature have pulled the collection moratorium bill  COVID-19 Financial Security for Consumers Act, from the bills to be heard today, it does not mean that the bill will not advance.

We believe it means the Legislature is aware how devastating the bill would be to community associations. However, it is still so important that you write to your legislators in your district to express your strong opposition to the bill.

If passed, the bill will have a devastating impact on community associations. In short, it’s intent is to provide an assessment collection moratorium on all “affected” by COVID-19, and not allow creditors or debt collectors seek collection.

Without clear definition of what it means to be “affected,” it is essentially giving an assessment holiday for all.

Please write to your legislator immediately to advise of the deleterious effect this bill will have on the ability to provide the services it must to its members. Your letter, or e-mail, to your legislator is important and considered when bills are considered.

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COPYRIGHT © 2021, STARK & STARKNational Law Review, Volume X, Number 104
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TRENDING LEGAL ANALYSIS

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About this Author

A. Christopher Florio, Stark, New Jersey, Loan Transactions Lawyer, Community Associations attorney
Shareholder

A. Christopher Florio is a Shareholder and Chair of the Community Associations Group. Mr. Florio has substantial experience in the negotiation of loan transactions, collections, workouts, and real estate law, including foreclosures.

Mr. Florio has served as a member of the New Jersey Assembly Task Force, commissioned to study community associations in New Jersey. He was appointed to the position by General Assembly Speaker Chuck Haytaian and again by General Assembly Speaker Jack Collins. Additionally, he currently serves on the Legislative...

609-895-7335
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