The proposed bill would amend current statutes regarding common expense liens in homeowners' associations (HOAs) by increasing the threshold for delinquency from $1,200 to $10,000 and extending the period of delinquency from one year to eighteen months before an HOA can initiate foreclosure proceedings. Specifically, the bill would insert language allowing foreclosure if any assessment or portion of the assessment is delinquent in the amount of $10,000 or more, rather than the previous amount, and would change the delinquency period from one year to eighteen months.

Additionally, the bill makes technical changes to clarify that member expenses are not enforceable as common expense liens, and it specifies that the association has a judgment lien for member expenses only after a court judgment is entered. The bill also updates the notice requirements for delinquency communications, ensuring that notices are sent by certified mail and include contact information for discussions about payment. Overall, these changes aim to provide HOAs with more robust tools for managing delinquent assessments while ensuring clearer communication with members.

Statutes affected:
Introduced Version: 33-1807
Senate Engrossed Version: 33-1807
House Engrossed Version: 33-1807
Chaptered Version: 33-1807