(a) The disclosures required by this article with regard to an association or a property shall be summarized on the following form:
Assessment and Reserve Funding Disclosure Summary
(1) The current regular assessment per ownership interest is $_____ per ____. Note: If assessments vary by the size or type of ownership interest, the assessment applicable to this ownership interest may be found on page _____ of the attached summary.
(a) For the purposes of this section, the following definitions shall apply:
(1) “Association records” means all of the following:
(A) Any financial document required to be provided to a member in Section 1365.
(a) The association shall distribute the written notice described in subdivision (b) to each member of the association during the 60-day period immediately preceding the beginning of the association’s fiscal year. The notice shall be printed in at least 12-point type. An association distributing the notice to an owner of an interest that is described in Section 11212 of the Business and Professions Code that is not otherwise exempt from this section pursuant to subdivision (a) of Section 11211.7, may delete from the notice described in subdivision (b) the portion regarding meetings and payment plans.
(b) The notice required by this section shall read as follows:
“NOTICE ASSESSMENTS AND FORECLOSURE
Unless the governing documents impose more stringent standards, the association shall prepare and distribute to all of its members the following documents:
(a) A pro forma operating budget, which shall include all of the following:
(1) The estimated revenue and expenses on an accrual basis.
(a) The governing documents, including the operating rules,
may not prohibit posting or displaying of noncommercial signs,
posters, flags, or banners on or in an owner’s separate interest,
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