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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

SUMMARY AS PASSED: (all summaries)

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.


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