Maryland General Assembly Considers Bill To Require Written Policies For Homeowner Association Payment Plans

Senate Bill 1115, filed in the Maryland General Assembly, would require homeowner associations to adopt a written policy if it permits payment plans for homeowner fees and other charges.  The new law would add Section 11-114.1 to the Maryland Homeowner Association Act, and provide that, if a homeowner association allows members to pay fees and other charges pursuant to a payment plan, the association must develop a written policy that (1) establishes the qualifications needed to participate in a payment plan; and (2) discloses the terms and conditions of the payment plan.  The bill would further require the written policy to be transmitted to each homeowner within 30 days of its adoption.