2001 House Bill 5486 ↩

Senate Roll Call 452: Passed

To require a developer to get prior consent from co-owners and others having an interest in the project before removing any unbuilt unit from a condominium development plan designated as “must be built.” It would address details of how common expenses are to be assessed, specify that certain voting rights only apply to first mortgage holders, and expand disclosure requirements for an owner who wishes to rent out a unit. The bill applies to new condo projects only, not existing ones. The Senate had requested the return of the bill to insert provision that clarifies the statute of limitations on lawsuits by condo owners.