Minnesota HOA & condo compliance, with the statute behind every deadline
Minnesota regulates condominiums, cooperatives, and planned communities (Minnesota's own term for what this product calls an HOA) under one law: the Common Interest Ownership Act, Minn. Stat. ch. 515B. It's a genuinely detailed chapter — open board meetings, a written preventative-maintenance plan, and an annual independent CPA review of the association's own financial statements. GnomeOwner's compliance calendar tracks duties like these automatically, and shows the exact statute sentence behind each one, not just a due date.
Minnesota's coverage also turns on when your community was created and, for a planned community or cooperative, its size — a community formed on or after June 1, 1994 generally gets the full Act, while some older or smaller communities fall into a real exemption instead. GnomeOwner asks which side of that line your community falls on once, during setup, and adjusts your calendar automatically from then on.
Minnesota requires an independent CPA to review your association's finances every year
Most states leave financial oversight to the board's own judgment. Minnesota's Act doesn't: “a review of the association's financial statements shall be made at the end of the association's fiscal year” by a licensed independent CPA, with the reviewed statements delivered to every member within 180 days — unless owners holding at least 30% of the votes affirmatively waive the review for that year, within 60 days of the fiscal year ending. This is a real, recurring professional-oversight duty most states don't impose on a small, self-managed board at all.
“a review of the association's financial statements shall be made at the end of the association's fiscal year”
A few of the duties GnomeOwner tracks for Minnesota common interest communities — condominiums, cooperatives, and planned communities — governed by the Minnesota Common Interest Ownership Act (MCIOA), Minn. Stat. ch. 515B
Every deadline here shows you the exact sentence of the statute it comes from, so you — or your attorney — can check it in seconds.
Hold board meetings open to the unit owners
Keep meetings of the board of directors open to the unit owners, and give reasonable notice of the date, time, and place to the extent practicable. The board may close a meeting only to discuss personnel matters, pending or potential litigation or other adversarial matters, or criminal activity where closing protects a victim's privacy or an investigation.
Applies to a Minnesota condominium (any size), or a cooperative or planned community created on or after June 1, 1994 that doesn't fit the Act's small-community, two-unit, detached-single-family, nonresidential, or short-term-cooperative exemptions — or an older, exempt community whose owners voted to elect full coverage.
“meetings of the board of directors must be open to the unit owners.”
Hold the annual meeting of the members
Hold a meeting of the association at least once each year. At the annual meeting, at a minimum, elect successor directors for any whose terms have expired, report on the association's activities and financial condition, and act on any other matters in the notice.
Applies to a Minnesota condominium (any size), or a cooperative or planned community created on or after June 1, 1994 that doesn't fit the Act's small-community, two-unit, detached-single-family, nonresidential, or short-term-cooperative exemptions — or an older, exempt community whose owners voted to elect full coverage.
“A meeting of the association shall be held at least once each year.”
Give 21-30 days' notice of the annual meeting (7-30 days for a special meeting)
Not less than 21 nor more than 30 days before an annual meeting — and not less than 7 nor more than 30 days before a special meeting — hand-deliver or mail each unit written notice stating the date, time, place, and purposes of the meeting and, if proxies are allowed, how to appoint one.
Applies to a Minnesota condominium (any size), or a cooperative or planned community created on or after June 1, 1994 that doesn't fit the Act's small-community, two-unit, detached-single-family, nonresidential, or short-term-cooperative exemptions — or an older, exempt community whose owners voted to elect full coverage.
“Not less than 21 nor more than 30 days in advance of any annual meeting, and not less than seven nor more than 30 days in advance of any special meeting, the secretary or other officer specified in the bylaws shall cause notice to be hand delivered or sent postage prepaid by United States mail”
Maintain property and liability insurance
Starting no later than the first conveyance of a unit to a non-declarant owner, maintain — to the extent reasonably available — property insurance on the common elements (and, where units share or have contiguous walls, siding, or roofs, on those units too) for at least the full insurable replacement cost, plus commercial general liability insurance. If the coverage is not reasonably available, promptly notify every unit owner.
Applies to a Minnesota condominium (any size), or a cooperative or planned community created on or after June 1, 1994 that doesn't fit the Act's small-community, two-unit, detached-single-family, nonresidential, or short-term-cooperative exemptions — or an older, exempt community whose owners voted to elect full coverage.
“Commencing not later than the time of the first conveyance of a unit to a unit owner other than a declarant, the association shall maintain, to the extent reasonably available:”
Budget adequate replacement reserves each year (current rule)
Include in each annual budget replacement reserves the board projects to be adequate — together with past and future contributions — to fund the replacement of the common-element components the association must replace for ordinary wear and tear or obsolescence. Keep the reserves in a separate account, do not use or borrow from them for operating expenses, and reevaluate their adequacy at least every third year after the community was created.
Applies to a Minnesota condominium (any size), or a cooperative or planned community created on or after June 1, 1994 that doesn't fit the Act's small-community, two-unit, detached-single-family, nonresidential, or short-term-cooperative exemptions — or an older, exempt community whose owners voted to elect full coverage. This is the reserve rule for your association's fiscal years that begin on or after January 1, 2012 — the rule for any earlier fiscal year is the predecessor reserve section on this calendar.
“The association shall include in its annual budgets replacement reserves projected by the board to be adequate, together with past and future contributions to replacement reserves, to fund the replacement of those components of the common interest community which the association is obligated to replace by reason of ordinary wear and tear or obsolescence”
Have the financial statements reviewed by a CPA each year
Have a review of the association's financial statements made by a licensed independent CPA at the end of each fiscal year, and deliver the reviewed statements to all members within 180 days after the fiscal year ends — unless, within 60 days after the fiscal year, owners holding at least 30% of the votes vote to waive the review for that year.
Applies to a Minnesota condominium (any size), or a cooperative or planned community created on or after June 1, 1994 that doesn't fit the Act's small-community, two-unit, detached-single-family, nonresidential, or short-term-cooperative exemptions — or an older, exempt community whose owners voted to elect full coverage.
“a review of the association's financial statements shall be made at the end of the association's fiscal year”
Give notice and a hearing before levying a fine
Before levying a fine for a violation of the declaration, bylaws, or rules, give the unit owner notice and an opportunity to be heard before the board or a committee it appoints. Provide the owner a dated written notice stating the amount, the specific violation and date, the rule violated, the owner's right to be heard, and that unpaid fines can become a lien.
Applies to a Minnesota condominium (any size), or a cooperative or planned community created on or after June 1, 1994 that doesn't fit the Act's small-community, two-unit, detached-single-family, nonresidential, or short-term-cooperative exemptions — or an older, exempt community whose owners voted to elect full coverage. Your board is considering levying a fine against a unit owner for a violation of the declaration, bylaws, or rules and regulations.
“after notice and an opportunity to be heard before the board or a committee appointed by it, levy reasonable fines for violations of the declaration, bylaws, and rules and regulations of the association”
Furnish a resale disclosure certificate within 10 days of an owner's request
Within 10 days after a unit owner's or their representative's request, furnish the resale disclosure certificate — dated not more than 90 days before the purchase agreement or conveyance — covering assessments and other charges payable on the unit, reserves and the components the association must replace, unsatisfied judgments and pending lawsuits, insurance coverage, and any known violations. The association may charge a reasonable fee.
A unit owner (or their authorized representative) has asked the association for the resale disclosure certificate they need to give a buyer before selling their unit.
“The association, within ten days after a request by a unit owner, or the unit owner's authorized representative, shall furnish the certificate required in subsection (a).”
Every item above is drafted from Minnesota’s statute text and shown beside the exact sentence it comes from — check any claim against the law’s own words. This page hasn’t had a full attorney review. Confirm anything you plan to act on with your own attorney or CPA; law as reflected here is current as of 2026-08-22.
Minnesota questions we hear a lot
What are a Minnesota common interest community's annual requirements?
Under MCIOA, a fully covered Minnesota community must hold an annual meeting of members (Minn. Stat. § 515B.3-108(a)), give 21-to-30 days' notice for that meeting and 7-to-30 days' for a special meeting (§ 515B.3-108(b)-(c)), adopt a written preventative-maintenance plan for the common elements (§ 515B.3-107(b)), and maintain property and liability insurance (§ 515B.3-113(a)). GnomeOwner's calendar tracks each one with its own due date and statute citation.
Does Minnesota require open board meetings?
Yes: “meetings of the board of directors must be open to the unit owners” (Minn. Stat. § 515B.3-103(g)), with reasonable notice of the date, time, and place given to the extent practicable. The board may close a meeting only to discuss personnel matters, pending or potential litigation or other adversarial matters, or criminal activity where closing protects a victim's privacy or an investigation.
Does Minnesota require an independent financial review?
Yes, a genuine annual duty: “a review of the association's financial statements shall be made at the end of the association's fiscal year” by a licensed independent CPA, delivered to all members within 180 days (Minn. Stat. § 515B.3-121(a)) — unless owners holding at least 30% of the votes vote to waive it for that year, within 60 days of the fiscal year's end.
Does Minnesota's Common Interest Ownership Act cover every Minnesota community?
Not automatically. A condominium of any size is always fully covered. A cooperative or planned community reaches full coverage only if it was created on or after June 1, 1994 and doesn't fit one of the Act's exemptions — a small planned community of 3 to 12 units created between June 1, 1994 and July 31, 2006, a two-unit planned community, a pre-June-1994 cooperative or planned community, a detached single-family or agricultural community with no shared building to maintain, a nonresidential community, or a short-term cooperative — unless its owners voted to elect full coverage anyway.
Is GnomeOwner's Minnesota compliance calendar reviewed by a lawyer?
Every deadline on this page is shown beside the exact sentence of the statute it comes from — so you can check each claim against the law's own words, right here on the page. What this page hasn't had yet is a full attorney review. It's legal information, not legal advice: confirm anything you plan to act on with your own attorney.
Also covered: North Carolina, Nevada, Virginia, Arizona, Washington, South Carolina, Illinois, Oregon, Utah, California, Colorado, Texas, Georgia, Florida, New York, Michigan, Massachusetts, Ohio, Pennsylvania, New Jersey, South Dakota, Wyoming, Connecticut, Alaska, West Virginia, Vermont, Delaware, Alabama, Montana, Hawaii, New Hampshire, Idaho, Iowa, Kentucky, Louisiana, North Dakota, Maine, Nebraska, Rhode Island, Oklahoma, New Mexico, Kansas, Mississippi, Arkansas, Missouri, Wisconsin, Indiana, Maryland, Tennessee. More states are added as their compliance calendars are built — see the full list.
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