1. A units owner shall adhere to a schedule required by the association for: (a) The completion of the design of a unit or the design of an improvement to a unit; (b) The commencement of the construction of a unit or the construction of an improvement to a unit; (c) The completion of the construction of a unit or the construction of an improvement to the unit; or (d) The issuance of a permit which is necessary for the occupancy of a unit or for the use of an improvement to a unit. 2. The association may impose and enforce a construction penalty against a units owner who fails to adhere to a schedule as required pursuant to subsection 1 if: (a) The right to assess and collect a construction penalty is set forth in: (1) The declaration; (2) Another document related to the common-interest community that is recorded before the date on which the units owner acquired title to the unit; or (3) A contract between the units owner and the association; (b) The association has included notice of the maximum amount of the construction penalty and schedule as part of any public offering statement or resale package required by this chapter; and (c) The units owner receives notice of the alleged violation which informs the units owner that he or she has a right to a hearing on the alleged violation. 3. For the purposes of this chapter, a construction penalty is not a fine.
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