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2009 SESSION
HB 2599 Real Estate Cooperative Act; amendment of declaration, revival of expired declarant rights.
Introduced by: Barry D. Knight | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Real Estate Cooperative Act; amendment of declaration; revival of expired declarant rights. Provides that if the time limit specified in the declaration for the creation of cooperative interests or the exercise of special declarant rights has expired, with the approval of the persons entitled to cast at least two-thirds of the votes in the association, other than any votes allocated to cooperative interests owned by the declarant, or any larger percentage as the declaration specifies, the declaration may be amended to (i) revive and reinstate any or all of the expired rights to create additional cooperative interests and any or all of the expired special declarant rights, and (ii) vest in any person, including the original declarant, any or all of the powers, rights, privileges, and authority to which a declarant is entitled under the Act regarding the exercise of the revived and reinstated rights with respect to any parcel of real estate that is a common element or any additional real estate that such amendment permits to be added to the cooperative. In no event, however, shall any such amendment extend or renew a period of declarant control of the association or provide a new period of declarant control.
FULL TEXT
- 01/22/09 House: Presented and ordered printed 098823590 pdf
- 02/28/09 House: Bill text as passed House and Senate (HB2599ER) pdf
- 03/27/09 Governor: Acts of Assembly Chapter text (CHAP0221) pdf
HISTORY
- 01/22/09 House: Presented and ordered printed 098823590
- 01/22/09 House: Referred to Committee on General Laws
- 01/27/09 House: Assigned GL sub: Housing
- 01/28/09 House: Subcommittee recommends reporting
- 01/29/09 House: Reported from General Laws (22-Y 0-N)
- 02/02/09 House: Read first time
- 02/03/09 House: Read second time and engrossed
- 02/04/09 House: Read third time and passed House BLOCK VOTE (98-Y 0-N)
- 02/04/09 House: VOTE: BLOCK VOTE PASSAGE (98-Y 0-N)
- 02/05/09 Senate: Constitutional reading dispensed
- 02/05/09 Senate: Referred to Committee on General Laws and Technology
- 02/18/09 Senate: Reported from General Laws and Technology (15-Y 0-N)
- 02/20/09 Senate: Constitutional reading dispensed (39-Y 0-N)
- 02/23/09 Senate: Read third time
- 02/23/09 Senate: Passed Senate (40-Y 0-N)
- 02/28/09 House: Enrolled
- 02/28/09 House: Bill text as passed House and Senate (HB2599ER)
- 02/28/09 House: Signed by Speaker
- 02/28/09 Senate: Signed by President
- 03/27/09 Governor: Approved by Governor-Chapter 221 (effective 7/1/09)
- 03/27/09 Governor: Acts of Assembly Chapter text (CHAP0221)