A BILL for an Act to create and enact a new chapter to title 47 of the North Dakota Century Code, relating to association community bylaws and board of directors.

SB 2394 would establish new rules for homeowner associations in North Dakota, requiring them to adopt specific bylaws governing operations and board management. Key provisions include mandating annual budgets, formal reserve funds for future repairs (like roof replacements or pavement work), and quarterly board meetings with detailed financial disclosures to members. The bill directly affects property owners within these associations, requiring them to carry adequate insurance and providing members a 30-day response window for written inquiries. It also sets spending limits (requiring two board signatures for expenses over $10,000) and annual insurance updates to cover property replacement costs.