This bill amends provisions relating to reinvestment fees in homeowners' associations.
This bill:
- defines terms;
- amends the expenses for which a homeowners' association may use a reinvestment fee;
- amends the amount of a reinvestment fee that a homeowners' association may impose;
- requires that a homeowners' association deposit 50% of a reinvestment fee into reserve funds;
- provides that when a homeowners' association registers with the Department of Commerce, the homeowners' association shall provide certain information relating to a reinvestment fee or a transfer fee; and
- makes technical changes.

Statutes affected:
Introduced: 57-1-46, 57-8-13.1