– Legal Insights –
This article is the second in a series about changes in the MCIOA. In this series of articles, we are analyzing the different provisions of SF 1750, which made numerous changes to the Minnesota Common Interest Ownership Act (“MCIOA”). With the exception of a few changes in definitions, which were...
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As summer approaches for many of us our thoughts turn to the cabin or some other vacation property. For many families the cabin is not only a weekend or summer getaway, but part of the family’s legacy. For many owners, passing the property on to the next generation is not...
Fact or Fiction? It is legal to charge 18% per annum interest to all customers on unpaid balances. Answer: FICTION! In most cases, the maximum interest that may be charged on past-due accounts is 8% per annum if you have a written contract. Fact or Fiction? As subcontractor, if I...
In Minnesota, a homeowner can make a claim for defective construction in new homes and remodeling projects. The defect or error, however, must be discovered within 10 years of completion of the work. This 10 year deadline is called the statute of repose. This 10 year period begins to run...
Know Your Options Short-term or long-term disability coverage? Employer’s employment policies regarding disability leave Disability retirement? What happens with other benefits – health, 401 (k), life insurance Family Medical Leave Act coverage What Support Do You Have? Review medical records for accuracy and detail Discuss disability with physician Need...
Businesses in the construction industry have historically relied heavily upon independent contractors to perform work. While it is sometimes clear that a party is a true subcontractor, such as hiring ABC Flooring Inc. or 123 Hardwoods LLC, it is equally as common to misclassify laborers who are legally employees as...
The maxim that one’s home is their castle goes as far back as the English common law of 1628: “For a man’s house is his castle and each man’s home is his safest refuge.” – Sir Edward Coke. Although these days that maxim may not be as literal as it...
Many analysts celebrated Main Street and the “little guy” as community banks across the country outperformed the rest of the banking industry at year-end 2014. According to the FDIC’s Quarterly Banking Profile report for the fourth quarter of 2014, the banking industry saw a robust performance by community banks. Community...
With the recent flood of mergers and acquisitions in the banking industry and the ever present movement of bankers from one bank to the next, non-compete agreements are being used more now than ever before. However, despite their wide spread use, many bankers do not have a clear idea whether...
Many community associations struggle with how much money to reserve for the future replacement of components. An association establishes an annual budget using the estimated expenses required to operate over the coming year. If the association is responsible to replace a component, e.g., roofs, siding, etc., then a replacement reserve...
In our previous newsletter, discussion was had about a number of points to consider when completing repairs of issues that may arise. As winter turns into spring (hopefully!) it can often lead to other issues arising, including water leaks, ice dams, etc. It is important to consider the items listed...