Bill Summary
SB 348 Purchasers of Condominium Units (2015 Session)
Purchasers of Condominium Units; Clarifying the voting process pertaining to reserves; adding conditions under which certain unit owners are entitled to elect at least a majority of the members of the board of administration of an association; revising the conditions under which certain grants, reservations, or contracts made by an association may be canceled; providing a directive to the Division of Law Revision and Information; limiting the rights of bulk-unit purchasers and lender-unit purchasers to vote on reserves or funding of reserves, etc. Effective Date: 7/1/2016
01/14/15
SENATE
Filed
01/22/15
SENATE
Referred to Regulated Industries; Appropriations Subcommittee on General Government; Fiscal Policy
05/01/15
SENATE
Died in Regulated Industries
No amendments to this bill text filed.
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