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2013 SESSION

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HB 2275 Condominium Act; expands respective declarant control period, warranty review committees.

Introduced by: Christopher K. Peace | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED:

Condominium Act; declarant control. Expands the respective declarant control period during which the declarant has reserved the power to add more units to the condominium, notwithstanding the limitations in the Condominium Act, at the request of the declarant, provided that (i) a special meeting is held prior to the expiration of the initial period of declarant control; (ii) at such special meeting, the extension of such time limits is approved by a two-thirds affirmative vote of the unit owners other than the declarant; and (iii) at such special meeting, there is an election of a warranty review committee consisting of no fewer than three persons unaffiliated with the declarant. The bill details the notice that must be provided prior to any vote on the extension of declarant control and the authority that may be exercised by the warranty review committee. The bill also requires the Common Interest Community Board to develop the disclosure statement required in the event a declarant requests that the period of declarant control be extended within 30 days of the effective date of the act. Under the bill, for any condominium existing on July 1, 2013, the condominium instrument for such condominium may be amended in the manner prescribed in the relevant condominium instrument or by statute to conform to the provisions of the bill. The bill includes an emergency provision.

SUMMARY AS PASSED HOUSE:

Condominium Act; declarant control. Expands the respective declarant control period where the declarant has reserved the power to add more units to the condominium and provides that notwithstanding the limitations in the Condominium Act, at the request of the declarant and a two-thirds affirmative vote conducted pursuant to the voting procedures set forth in the Condominium Act, the initial declarant control period for a condominium may be extended at any time prior to its expiration, provided that it does not exceed 15 years from the settlement of the first unit to be sold in any portion of the condominium. The bill requires the declarant to provide certain written disclosures in a form developed by the Common Interest Community Board, to the unit owners prior to any meeting where the above vote is taken. The bill also changes when the statute of limitations for structural defects is tolled because of the longer period of declarant control provided for in the bill. The bills provides that for any condominium existing on July 1, 2013, the condominium instrument for such condominium may be amended in the manner prescribed in the relevant condominium instrument or by statute to conform to the provisions of the bill.

SUMMARY AS INTRODUCED:

Condominium Act; declarant control. Expands the respective declarant control period where the declarant has reserved the power to add more units to the condominium and provides that notwithstanding the limitations in the Condominium Act, at the request of the declarant and a two-thirds affirmative vote conducted pursuant to the voting procedures set forth in the Condominium Act, the initial declarant control period for an expandable condominium may be extended at any time prior to its expiration, provided that it does not exceed 15 years from the settlement of the first unit to be sold in any portion of the condominium. The bill also changes when the statute of limitations for structural defects is tolled because of the longer period of declarant control provided for in the bill. The bills provides that for any condominium existing on July 1, 2013, the condominium instrument for such condominium may be amended in the manner prescribed in the relevant condominium instrument or by statute to conform to the provisions of the bill.