Common interest group late fee charges limitations provision, association adoption of policies on fines and collection requirement provision, and disclosures requirements provision

This bill limits late fees charged by homeowner associations in Minnesota's condominiums, cooperatives, and planned communities. It requires associations to adopt written policies outlining fine amounts, collection procedures, and disclosure practices to members. Associations must also provide clear disclosures about fees and collection methods before imposing charges. These changes apply to all common interest communities governed by Minnesota Statutes sections 515B.3-102, 515B.3-115, and related provisions.