summary
Introduced
02/05/2026
02/05/2026
In Committee
02/17/2026
02/17/2026
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Common Interest Community Association Act and the Condominium Property Act. Requires an association under both Acts to adopt policies and procedures concerning the collection of unpaid assessments. Prohibits an association or a holder or assignee of the association's debt from taking legal action to collect common expenses unless the association has adopted a written policy governing the collection policy for unpaid assessments. Specifies what the policy, at a minimum, must contain.
AI Summary
This bill mandates that common interest community associations and condominium associations must establish and follow written policies for collecting unpaid assessments, which are regular payments made by unit owners to cover shared expenses. Before an association or anyone holding its debt can take legal action to collect these unpaid common expenses, they must have a written policy in place that outlines specific details, including when assessments are due and considered delinquent, any late fees or interest that can be charged, fees for returned checks, conditions for payment plans, the timeframe for referring delinquent accounts to an attorney, how payments are applied, and the legal remedies available for collecting overdue amounts. This policy must be adopted and adhered to, ensuring a standardized and transparent process for handling delinquent accounts.
Committee Categories
Justice
Sponsors (1)
Last Action
Assigned to Judiciary (on 02/17/2026)
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