MN HF3808

Caps late fees for common interest community (CIC) associations at 15% of any assessment installment, unless the declaration provides otherwise

Requires associations to adopt and distribute written policies on fines (including a list of violations, fine amounts, and available remedies) and collection procedures (requiring three notifications before referral to collections, with at least one sent by certified mail)

Mandates that attorney fees and costs related to disputed fines or assessments cannot be charged to unit owners until after a hearing is held and the board adopts a resolution upholding the fine or assessment

Expands disclosure requirements for unit sales to include: association insurance deductibles and loss assessment information, reserve studies, fine/collection policies, and a written acknowledgment that purchasers understand governing documents impact their property rights

Requires preforeclosure notices for association lien foreclosures to be sent by both regular U.S. mail and certified mail