SS Memo 12-05
COMMON INTEREST COMMUNITY GUIDE REVISION: CONTACT SERVICING
August 3, 2012
(Revised Sections .02.Z and 09.C)
The insurance sections of the Common Interest Community Guide are being amended in the following manner:
Section .02.Z: General Requirements for Project Acceptance - Insurance
- The insurance carrier rating requirement is being changed from the previous requirement of no less than B/III to the new requirement of no less than A-.
- The Fidelity Insurance requirement is being changed to more clearly state the fidelity bond requirement for the homeowners association and the management agent.
- References to "condominium project" have been replaced with "common interest community project".
Section .09.C: Continuation of AHFC Approval - Insurance:
- The fidelity bond reference is being removed from this section. A reference has been added that policies must comply with the New Project Acceptance Insurance section of the CIC guide.
FORMS GUIDE REVISIONS: CONTACT SERVICING
(Only available in PDF - Adobe Acrobat or Adobe Reader is required to read/print PDF files)
- PRJ-4 Common Interest Community Project Reacceptance Requirements