Below is an excerpt of the law passed in 2022.
You can download a copy of the requirements from the Wisconsin Senate website here.
LARGE CONDOMINIUMS; INTERNET SITE FOR RECORDS INSPECTION.
703.20 1r, Wisconsin Statutes
(CODING: Words Emphasis added for convenience.)
(1r) (a) In this subsection, “large association” means an association for a condominium with 100 or more units.
(1r) (b) Beginning on April 1, 2023, a large association shall maintain an Internet site that satisfies all of the following criteria:
1. The site is any of the following:
a. Wholly owned and operated by the large association.
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.
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.
(1r) (c) Beginning on April 1, 2023, 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). [quoted below...]
(1r) (d) Upon a unit owner's written request, a large association shall provide the unit owner with a username and password and access to the protected locations of the large association's Internet site described under par. (b).
(1g) (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) [quoted below...] created within the past 6 years and any records of the association described under sub. (1) (a) 3. and (b) 7. [quoted below...] 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.
(1g) (b) Notwithstanding par. (a), an association is not required to allow a unit owner to inspect or copy any of the following records:
- 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.
- Personnel records of the association.
- 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.
- 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.
- A financial record described under sub. (1) (c). [quoted below...]
(1g) (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.
(1) (a) Minutes and records of action; condominium documents. An association shall keep all of the following records:
- 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.
- 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.
- 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.
- Copies of the proposed or existing declaration, the bylaws, and any rules or regulations.
- A copy of the proposed or existing articles of incorporation of the association, if it is or is to be incorporated.
- A copy of any proposed or existing management contract, employment contract or other contract affecting the use, maintenance or access of all or part of the condominium to which it is anticipated the unit owners or the association will be a party following closing.
- A copy of the projected annual operating budget for the condominium including reasonable details concerning the estimated monthly payments by the purchaser for assessments, and monthly charges for the use, rental or lease of any facilities not part of the condominium.
- A copy of any lease to which it is anticipated the unit owners or the association will be a party following closing.
- A description of any contemplated expansion of the condominium with a general description of each stage of expansion and the maximum number of units that can be added to the condominium.
- A copy of the floor plan of the unit together with the information that is necessary to show the location of the common elements and other facilities to be used by the unit owners and indicating which facilities will be part of the condominium and which facilities will be owned by others.
- An executive summary setting forth in clear plain language the following information, or the location within the disclosure materials described in pars. (a) to (g) where the information may be found, and the date on which the executive summary is prepared or revised. [details of executive summary]
(1) (b) Financial records. Except as provided under par. (c), an association shall maintain appropriate financial records for at least 6 years, including all of the following:
- Detailed, accurate records using standard bookkeeping procedures of the receipts and expenditures affecting the common elements, specifying and itemizing the maintenance and repair expenses of the common elements and any other expenses incurred.
- Annual budgets described under s. 703.161.
- Financial statements.
- Bank statements and account statements, including statements for reserve accounts, created within the past 6 years.
- Income and expense statements.
- Insurance policies issued within the past 6 years.
- The most recent audit of the association's financial records, if any.
- Contracts entered into within the past 6 years and any bids for those contracts received within the past 3 years.
- Invoices and expense records created within the past 6 years.
In comparitive language to the Act...
The association rents the CondoSites product in order to operate a site dedicated to the large association's activities and on which the large association may post notices, records, and documents. The site is accessible through the Internet and includes a protected electronic location that is inaccessible to the general public through password protection and accessible only to unit owners and employees of the large association. Each user creates their own login and password by completing a form accessible on the home page of the website. Access to password-protected areas is subject to approval and/or audit by an authorized administrator, an individual appointed by the association's directors.
The CondoSites product exceeds the technological requirements set by the State of Wisconsin by including SSL encryption, individual passwords for each user that are hashed before being transmitted and that are only known by that user, and offers separate password restricted content areas for both renters and realtors while still protecting owner privileged data.