COLUMN: Barbara Holland

Several aspects of Senate Bill 100 refer to fines and foreclosures. These provisions stipulate:

1. In imposing fines, an association may apply any interest, charges or costs that may accrue if the fine is past due, regardless of the sum of the fine, as long as interest charges do not exceed the legal rate per year.

2. If the past due fine is for a violation that does not threaten the health, safety or welfare of residents, the limits for the costs of collecting past due fines are as follows:

a. may not exceed $20 if the outstanding balance is less than $200;

b. may not exceed $50 if the balance is more than $200 but less than $500;

c. may not exceed $100 if more than $500 but less than $1,000;

d. may not exceed $250 if more than $1,000 but less than $5,000; and

e. may not exceed $500 for $5,000 or more.

3. Any past due fine may include any costs incurred by the association during a civil action to enforce the fine. Costs of collecting include, without limitation, any fees for collection, filing, recording, referral, postage or any other fee that may be reasonably charged to the unit owner for collection.

4. The time requirements of a foreclosure has been increased, amending the law as follows: not less than 30 days after mailing the notice of a delinquent assessment, the association or other person conducting the sale shall execute and cause to be recorded a notice of default and election to sell the unit to satisfy the lien. The unit owner or the owner's successor has 90 days to pay the amount of the lien, including any costs, fees and expenses accrued, following the recording of the notice.

5. The period of 90 days begins on the first day following the latter of the days on which the notice of default is recorded, or on which a copy of the notice of default is mailed by certified or registered mail, return receipt requested, to the unit owner or successor, if known and at the address of the unit. The association shall also, after the expiration of 90 days and before the selling of the unit, give notice of the time and place of the sale. This notice must be sent to the ombudsman.

Questions for Barbara Holland may be sent to Association Q. & A., P.O. Box 7440, Las Vegas, NV 89125. Her fax number is 385-3759.

Barbara Holland, Certified Property Manager, is president and co-owner of H&L Realty and Management Co. She is a member of the Institute of Real Estate Management and is the author of two books on the subject. Holland is a past president of the Greater Las Vegas Association of Realtors.

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