March 28, 2026 | Mark Luis Foster

Taking a break here from the bevy of proposed legislation that is firing off toward HOAs in Minnesota to look for other legislative stories making headlines from across the USA.  I found this one from Newschannel 5 in Tennessee:

A bill requiring homeowners associations to carry crime insurance is heading to Gov. Bill Lee’s desk following an investigation into a property management company accused of losing more than $1 million in HOA dues.

We blogged about this story a while ago and since then, the legislature there decided to take action. Officials decided to look into Gasser Property Management back in 2025. In the complaints that launched an investigation, “dozens” of HOA communities across four counties that had been managed by that company suddenly discovered funds missing with no explanations or records of transactions. When management company owner Emery Gasser went incognito, the affected HOAs started to file complaints with police.

Despite more than $1 million in missing dues, some communities will not be made whole because their insurance policies denied their claims.

The proposed bill requires HOAs to take out what is known as a fidelity bond, which is a kind of insurance against crime. It protects the money paid to HOAs from scams and dishonest board members, employers, or property managers. There are various types of insurance coverage available here in Minnesota for that purpose for similar protection.  The bill that mandates such coverage is now headed to the Governor’s desk in Tennessee.

HOA residents seem to be positive on the news.

Neighbors said they are happy and call the bill a good first step, but they know it will not solve everything the investigation exposed, as HOAs still have to apply for the bonds. Neighbors said they will keep pushing for stricter oversight of property managers.

Read and watch the story HERE.