MS SB2122

Requires developers to organize homeowners associations by the time the first lot is conveyed, with a board including at least 25% owner-elected members once 25% of lots are sold and full owner control once 50% are sold.

Authorizes associations to adopt bylaws, impose and collect assessments, maintain common areas, levy reasonable fines with notice and hearing, and establish reserve accounts for major maintenance and repairs within 30 years.

Allows new owner-elected boards to terminate management contracts, employment contracts, and leases entered into by developers without penalty upon 90 days' notice.

Prohibits governing documents from restricting display of U.S. flags, discriminating based on race, color, sex, national origin, disability, families with children (except age-restricted communities), or unreasonably prohibiting energy efficiency measures like solar panels and efficient lighting.

Requires disclosure summaries provided to prospective buyers before contract execution, establishing liens for unpaid assessments, imposing developer liability for misappropriated funds, and limiting enforcement actions to one year from discovery of violations.