Establishes a registration requirement for residential common interest communities in Minnesota.

The bill mandates the Department of Commerce to create a register for residential common interest communities operating in Minnesota. These communities must annually submit specific information, including their legal name, contact details, and financial data. The bill also requires communities contracting with property management companies to disclose the company's legal obligations. Failure to register results in a notice from the Department of Commerce, with a 60-day grace period to comply. The bill takes effect on January 1, 2027.

Establishes a registration requirement for residential common interest communities in Minnesota.

The bill mandates the Department of Commerce to create a register for residential common interest communities operating in Minnesota. These communities must annually submit specific information, including their legal name, contact details, and financial data. The bill also requires communities contracting with property management companies to disclose the company's legal obligations. Failure to register results in a notice from the Department of Commerce, with a 60-day grace period to comply. The bill takes effect on January 1, 2027.