Legislative Session number- 84

Bill Name: HF0369

HF 369

CHAPTER 121
EFFECTIVE DATE: August 1, 2005

Minnesota Common Interest
Ownership Act amended.

Section 1: Applicability
Sec. 2: Definitions
Sec. 3:
Local requirement applicability
Sec. 4: Eminent domain
Sec. 5: Recording
Sec.
6: Common interest community creation
Sec. 7: Unit boundaries
Sec. 8: Unit
description
Sec. 9: Flexible common interest community declaration
Sec. 10:
Declaration of flexible common interest communities modified.
Sec. 11: Interest
allocation
Sec. 12: Common Interest Community Plat (CIC Plat)
Sec. 13:
Flexible common interest community expansion provided.
Sec. 14: Unit
combination language provided.
Sec. 15: Unit alteration modified.
Sec. 16:
Amendment of declaration
Sec. 17: Common interest community termination
Sec.
18: Master associations
Sec. 19: Common interest community form change
Sec.
20: Severance of common interest community
Sec. 21: Unit owners' association
organization
Sec. 22: Powers of unit owners' association modified.
Sec. 23:
Board of directors regulations modified.
Sec. 24: Contract and lease
termination regulations modified.
Sec. 25: Bylaws and annual report
modified.
Sec. 26: Voting proxies modified.
Sec. 27: Common element conveyance
or creation of security interests language provided.
Sec. 28: Insurance
regulations modified.
Sec. 29: Surplus fund reserve requirements modified.
Sec.
30: Common expense assessment procedures modified.
Sec. 31: Assessment lien
procedures modified.
Sec. 32: Lien regulations.
Sec. 33: Declarant duties
modified.
Sec. 34: Disclosure statement applicability modified.
Sec. 35:
Disclosure statement general provisions modified.
Sec. 36: Common interest
community with building once occupied
Sec. 37: Purchaser's right to cancel
Sec.
38: Unit resale provided
Sec. 39: Purchaser's right to cancel resale
regulations modified.
Sec. 40: Escrow deposit regulations modified.
Sec. 41:
Conversion property regulations modified.
Sec. 42: Warranty statute of
limitations modified.

AME
8-25-05