Maryland House Bill 107, also known as HB107, is a Maryland state law passed in 2022 that mandates that condominiums, housing associations, cooperatives, and homeowner associations complete a reserve study by October 1, 2023. The law, passed in response to the Surfside condominium collapse, is most notable for expanding the existing law on reserve studies, which only applied to Montgomery County and Prince George's County, to the entire state, requiring community associations three fiscal years to \"attain the annual reserve funding level\" recommended by the study and giving the board of directors of each association the power to \"increase assessments\" to fund such a study, overriding any bylaws or other governing documents capping assessment increases. It became law without the signature of Governor Larry Hogan.
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