Bill > HB2264

This bill modifies Oklahoma's law regarding owners associations (groups formed to manage and maintain commonly owned areas) by expanding their rights and procedures for collecting unpaid dues and assessments. The bill clarifies that when an owners association files a lien, it can include any new obligations that arise after the initial lien filing. The legislation provides detailed guidelines for how owners associations can collect owed amounts, including filing court actions and potential foreclosure. If the owners association prevails in a legal action, they can now recover attorney fees, and the bill specifies different procedures depending on whether a lien was previously filed. For instance, if a lien exists and the association wins a lawsuit, the judgment can supersede the original lien. The bill also provides protections for homeowners by requiring that they be informed in writing about association rules and potential financial liabilities when joining. Importantly, the bill establishes that after three years, if amounts remain unpaid, the association can foreclose on the lien using methods similar to mortgage foreclosures. The legislation will take effect on November 1, 2025, giving property owners and associations time to understand and prepare for the new regulations.

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb2264&Session=2600