Clarifies and updates the Minnesota Common Interest Ownership Act.

The bill makes clarifying, technical, and conforming changes to the Minnesota Common Interest Ownership Act. It updates definitions, modifies provisions on declarant control, and specifies the number of directors for certain associations. The bill also addresses insurance policies, warranties, and the allocation of interests and expenses among unit owners. It provides exemptions for certain communities and outlines procedures for the amendment and termination of declarations.

Clarifies and updates the Minnesota Common Interest Ownership Act.

The bill makes clarifying, technical, and conforming changes to the Minnesota Common Interest Ownership Act. It updates definitions, modifies provisions on declarant control, and specifies the number of directors for certain associations. The bill also addresses insurance policies, warranties, and the allocation of interests and expenses among unit owners. It provides exemptions for certain communities and outlines procedures for the amendment and termination of declarations.