MS HB1183

Establishes a comprehensive statutory framework for formation, organization, and administration of homeowners' associations in Mississippi, requiring associations to be organized as nonprofit corporations or limited liability companies with approved bylaws.

Mandates developer-organized associations establish a board of directors with at least 25% member-elected directors within 60 days of 25% lot conveyance, transitioning to full owner control at 50% conveyance.

Allows owner-elected boards to terminate pre-existing developer contracts (management, employment, recreational leases) without penalty upon 90 days' notice after taking office.

Requires associations to maintain reserve accounts for major repairs, conduct reserve studies every three years, and provide detailed budget disclosures to owners including 30-year funding projections.

Creates statutory lien on properties for unpaid assessments, establishes developer liability for misappropriation of association funds, and prohibits discriminatory covenants based on race, color, creed, sex, national origin, disability, or families with children (except age-restricted communities).