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General Bill by Representative
Heather Dawes Fitzenhagen
| Condominiums: Allows
condominium units to come into existence regardless of requirements or
restrictions in declaration; extends amount of time that clerk may
hold sum of money before notifying registered agent of an association
that sum is still available & purpose for which it was deposited;
changes requirements relating to circumstances under which declaration
of condominium or other documents are effective to create condominium;
revises conditions under which unit owners may vote on issues related
to preparation of financial reports; revises conditions under which
developer may vote to waive or reduce funding of reserves; revises
conditions under which developer may acquire leaseholds, memberships,
or other possessory or use interests; revises conditions under which
unit owners other than developer are entitled to elect at least
majority of members of board of administration; revises requirements
related to documents that developer must deliver to association;
revises conditions under which developer may amend declaration of
condominium governing phase condominium; provides for an extension of
7-year period for completion of phase; provides requirements for
adoption of an amendment; provides that an amendment adopted pursuant
to this section is exempt from other requirements of law. |
| Effective
Date: upon becoming a law |
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HERE FOR ORIGINALLY FILED VERSION!
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