AB570,5,4 1. Minutes of meetings of the association and of the board of directors of the association, which the association shall keep for at least 6 years.

AB570,5,7 2. Records of actions taken without a meeting by the unit owners on behalf of the association or by the board of directors of the association, which the association shall keep for at least 6 years.

AB570,5,9 3. The documents and information described under s. 703.33 (1) to (2) that are adopted by the association, which the association shall keep as permanent records.

AB570,10 Section 10 . 703.20 (1) (b) 2. to 9. of the statutes are created to read:

AB570,5,11 703.20 (1) (b) 2. Annual budgets described under s. 703.161.

AB570,5,12 3. Financial statements.

AB570,5,14 4. Bank statements and account statements, including statements for reserve accounts, created within the past 6 years.

AB570,5,15 5. Income and expense statements.

AB570,5,16 6. Insurance policies issued within the past 6 years.

AB570,5,17 7. The most recent audit of the association's financial records, if any.

AB570,5,19 8. Contracts entered into within the past 6 years and any bids for those contracts received within the past 3 years.

AB570,5,20 9. Invoices and expense records created within the past 6 years.

AB570,11 Section 11. 703.20 (1g) of the statutes is created to read:

AB570,6,4 703.20 (1g) Inspection and copying of records by unit owners. (a) A unit owner may inspect and copy, at a reasonable time and location specified by the association, any of the records of the association described under sub. (1) created within the past 6 years and any records of the association described under sub. (1) (a) 3. and (b) 7. regardless of when those records were created. A unit owner may select the date for the inspection and copying by providing the association written notice of the selected date at least 10 business days before the selected date if the selected date is a business day or other day agreed to by the association.

AB570,6,6 (b) Notwithstanding par. (a), an association is not required to allow a unit owner to inspect or copy any of the following records:

AB570,6,8 1. A record protected by the lawyer-client privilege, as described in s. 905.03, or a record that is the work product of the association's attorney.

AB570,6,9 2. Personnel records of the association.

AB570,6,11 3. A record of a violation of the declaration, bylaws, or association rules by a particular unit owner, other than the unit owner inspecting or copying the records.

AB570,6,14 4. A record of assessments levied against a particular unit owner, other than the unit owner inspecting or copying the records, or a record of the account status of a particular unit owner, other than the unit owner inspecting or copying the records.

AB570,6,17 (c) Notwithstanding par. (a), an association may, before allowing a unit owner to inspect or copy records, redact account numbers from the records described under sub. (1) (b) 3. and 4.

AB570,6,22 (d) An association may impose a reasonable charge for copies of any records the association provides to a unit owner under par. (a). The association may charge the unit owner for the costs of labor and materials used to provide the copies but may not charge an amount that exceeds the estimated cost of production or reproduction of the copies or $50, whichever is less.

AB570,12 Section 12 . 703.20 (1r) of the statutes is created to read:

AB570,7,3 703.20 (1r) Large condominiums; Internet site for records inspection. (a) In this subsection, “large association” means an association for a condominium with 100 or more units.

AB570,7,6 (b) Beginning on the first day of the 13th month beginning after the effective date of this paragraph .... [LRB inserts date], a large association shall maintain an Internet site that satisfies all of the following criteria:

AB570,7,7 1. The site is any of the following:

AB570,7,8 a. Wholly owned and operated by the large association.

AB570,7,12 b. Operated by a 3rd-party provider with whom the large association owns, leases, rents, or otherwise obtains the right to operate a site dedicated to the large association's activities and on which the large association may post notices, records, and documents.

AB570,7,15 2. The site is accessible through the Internet and includes a protected electronic location that is inaccessible to the general public and accessible only to unit owners and employees of the large association.

AB570,7,19 (c) Beginning on the first day of the 13th month beginning after the effective date of this paragraph .... [LRB inserts date], a large association shall post on its Internet site described under par. (b) a current copy of all of the records that unit owners are entitled to inspect under sub. (1g) (a).