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1998 SESSION

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SB 640 Property owners' associations; amendment of declaration.

Introduced by: William C. Mims | all patrons    ...    notes | add to my profiles

SUMMARY:

Property owners' associations; amendment of declaration. Provides that a declaration may be amended by agreement of owners of two-thirds of the lots subject to that declaration. The bill also authorizes an association created before July 1, 1998, to "opt-in" to the two-thirds amendment provision created under this bill, provided the "opt-in" is accomplished by a two-thirds agreement of the association. The bill clarifies, however, that it does not invalidate any declaration recorded prior to July 1, 1998. The bill also provides (i) that an action to challenge the validity of an amendment may not be brought more than one year after the amendment is effective and (ii) when an amendment is effective.


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