California Business and Professions Code

§ 11265.1

BPC § 11265.1 Effective Sep 22, 2006Div. 4 · Part 2 · Ch. 2 · Art. 4

Statute text

(a)Regular and special assessments levied pursuant to the time-share instrument are delinquent 30 days after they become due, unless the time-share instrument provides a longer time period, in which case the longer time period shall apply. If an assessment is delinquent, the association may recover all of the following:

(1)Reasonable costs incurred in collecting the delinquent assessment, including reasonable attorneys’ fees.

(2)A late charge not exceeding 10 percent of the delinquent assessment or ten dollars ($10), whichever is greater, unless the time-share instrument specifies a late charge in a smaller amount, in which case any late charge imposed shall not exceed the amount specified in the governing instrument.

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Legislative history

Added by Stats. 2006, Ch. 429, Sec. 9. Effective September 22, 2006. Operation is immediate, and not delayed by Sec. 12 of Ch. 429.