Lawmakers gave final approval April 2 to a bill that provides a mechanism for a dissolved Home Owners Association (HOA) to achieve reinstatement.
LB304, introduced by Lincoln Sen. Matt Hansen, adopts the Municipal Custodianship for Dissolved Homeowners Associations Act. The bill allows a municipality to be appointed custodian over a dissolved HOA.
The bill establishes a $100 fee for an HOA seeking reinstatement after being dissolved for more than five years and applies only to HOAs located within the city limits of a municipality.
The bill passed 45-0.