Important Update: Georgia SB 406 & What It Means for Our Community
Dear Neighbors,
We want to take a moment to inform you about proposed legislation in Georgia—Senate Bill 406 (SB 406)—that could significantly impact how Homeowners Associations (HOAs) operate across the state, including here in our community.
SB 406 introduces several major changes:
• State Oversight of HOAs – HOAs may be required to register with the state and could be subject to ongoing government oversight.
• Financial Reporting Requirements – Associations may need to submit multiple years of financial records, increasing administrative and compliance burdens.
• Restrictions on Collections & Foreclosure – The threshold for pursuing foreclosure would increase, and timelines for collections would be extended, potentially affecting HOA finances.
