Minn. Stat. Chapter 515B (Common Interest Ownership Act)
Complete compliance reference for Minnesota HOA and condo boards. Below you'll find late fee limits, violation notice procedures, reserve study requirements, collection rules, and meeting mandates — all based on current state statutes.
10
Day Cure Period
15
Day Grace Period
3
Day Board Meeting Notice
Yes
Hearing Required
Late fees governed by association documents. Must be reasonable. 8% guideline from state landlord-tenant law often referenced.
Written notice and opportunity for hearing required before fines. Fine schedule should be in adopted rules. Reasonableness standard applies.
No mandatory reserve study. Board has fiduciary duty to maintain adequate reserves. Professional reserve study strongly recommended.
Assessment lien priority per §515B.3-116. Notice required before lien recording.
Board meetings open to unit owners. Notice requirements per bylaws and statute.
Legal Disclaimer
This information is for general guidance only and does not constitute legal advice. HOA laws change frequently. Always consult a licensed attorney in Minnesota for specific legal questions regarding your community.
Parkie's compliance engine automatically monitors your Minnesota community against state regulations — flagging late fee violations, notice deadlines, and reserve requirements before they become problems.