The bill amends chapter 442 of the Revised Statutes of Missouri by adding a new section, 442.405, which establishes regulations for homeowners' associations. It defines a homeowners' association as a nonprofit corporation or unincorporated association of homeowners that manages portions of a planned community or residential subdivision. The bill specifies that these associations have the authority to assess members for costs related to their obligations under the association's declaration, but it explicitly excludes condominium unit owners' associations and residential cooperatives from this definition. A key provision of the bill mandates that homeowners' associations must dissolve ten years after their establishment unless they are renewed by a supermajority vote of 85% of their members within 90 days of the dissolution date. If an association fails to achieve this vote, it will be immediately dissolved, and its members will not be able to form a new association for ten years unless they receive the same level of approval. Additionally, associations that are renewed will need to undergo this renewal process every ten years, and those existing for at least ten years as of August 28, 2026, must hold their first renewal election by December 31, 2026, and continue this cycle every decade thereafter.

Statutes affected:
Introduced (5975H.01): 442.405