Indiana § 32-25.5-3-4 Approval of certain contracts; meeting; vote

Indiana Statutes

§ 32-25.5-3-4 — Approval of certain contracts; meeting; vote

Indiana § 32-25.5-3-4

Title 32PROPERTY

Art. 25.5HOMEOWNERS ASSOCIATIONS

This text of Indiana § 32-25.5-3-4 (Approval of certain contracts; meeting; vote) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 32-25.5-3-4 (2026).

Text

(a)This section does not apply to:

(1)a contract entered into by a board that would resolve, settle, or otherwise satisfy an act of enforcement against a homeowners association for violating a state or local law; or

(2)a contract under IC 36-9-27.8.

(b)A board may not enter into any contract that would result in a new assessment or the increase in an existing assessment payable by the affected members of the homeowners association in the amount of more than five hundred dollars ($500) per year for each affected member of the homeowners association unless:

(1)the board holds at least two (2) homeowners association meetings concerning the contract; and

(2)the contract is approved by the affirmative vote of at least two-thirds (2/3) of the affected members of the homeowners association.

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(a) This section does not apply to:
(1) a contract entered into by a board that would resolve, settle, or
otherwise satisfy an act of enforcement against a homeowners
association for violating a state or local law; or
(2) a contract under IC 36-9-27.8.
(b) A board may not enter into any contract that would result in a
new assessment or the increase in an existing assessment payable by
the affected members of the homeowners association in the amount of
more than five hundred dollars ($500) per year for each affected
member of the homeowners association unless:
(1) the board holds at least two (2) homeowners association
meetings concerning the contract; and
(2) the contract is approved by the affirmative vote of at least
two-thirds (2/3) of the affected members of the homeowners
association.
(c) A board shall give notice of the first homeowners association
meeting held under subsection (b):
(1) to each member of the homeowners association; and
(2) at least seven (7) calendar days before the date the meeting
occurs.