Condo act caps late interest at 18%; no owner assessment vote in sections read.
In the sections cited, the Maine Condominium Act lets the association adopt budgets and collect assessments and sets no owner vote or ratification for special assessments. Section 1603-115 applies to condominiums created under the Act and to older ones that amended their documents to adopt it, but not otherwise.
33 M.R.S. 1603-115; 1603-102(a)(2); 1601-102Notice of any owners' meeting must be hand delivered, mailed or sent to an address you designated, 10 to 60 days ahead, and must state the time, place and agenda, including any budget changes. The executive board must give timely notice of its own meetings and topics, owners may attend, and executive sessions are limited to listed topics. This section sets no separate notice for a special assessment and applies to older condominiums only if they adopted the Act.
33 M.R.S. 1603-108Records the association must retain, such as accounting records for the past 6 years, minutes, current contracts and financial statements for the past 3 years, are open for examination and copying by owners at reasonable business hours on 10 days' written notice identifying the records. Some records can be withheld, such as personnel, litigation and attorney-client records, and the association may charge a reasonable copying fee. This section applies to older condominiums too, for events after the Act took effect.
33 M.R.S. 1603-118For condominiums under the Act, interest on past due assessments is set by the association but cannot exceed 18% a year. The association has a lien on your unit that may be foreclosed like a mortgage, and enforcement must start within 6 years after the assessment is due. You can request a statement of unpaid assessments, due within 10 business days; the lien and statement rules also reach older condominiums for events after the Act took effect.
33 M.R.S. 1603-115(b); 1603-116In Maine, the same rules cover condos and HOAs.
Summarised from the statutes in November 2026. Not legal advice; your declaration and bylaws may add more rules.