Reinvestment Fee Amendments

Summary

The bill updates definitions and limits for reinvestment and transfer fees that homeowners' associations may charge. It caps the fee amount, requires half of any reinvestment fee to be deposited into reserve funds, and restricts the sale or assignment of fee covenants. It also makes transfer‑fee covenants recorded after March 16, 2010 unenforceable and adds reporting requirements for associations registering with the Department of Commerce.

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