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2012 SESSION
HB 418 Condominium and Property Owners' Association Acts; imposition of late fees on assessments.
Introduced by: Vivian E. Watts | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED HOUSE:
Condominium and Property Owners' Association Acts; assessments; imposition of late fees. Authorizes condominium and property owners' associations, except to the extent the declaration provides otherwise, to impose a late fee of not more than $15 or such other amount as may be determined by the board of directors, not to exceed $50, for any assessment or installment thereof that is not paid on the due date for payment of the assessment or installment.
SUMMARY AS INTRODUCED:
Condominium and Property Owners' Association Acts; assessments; imposition of late fees. Authorizes condominium and property owners' associations to impose a late fee of not more than $15 on any regular or special assessment levied that is not paid on the due date for payment of such assessment.