Enrolled HB 269: Relating to the amendment of a declaration that creates a common interest community.
00Enrolled HB 269 01 Relating to the amendment of a declaration that creates a common interest community. 02 _______________ 03 * Section 1. AS 34.08.250(a) is amended to read: 04 (a) Except for amendments that may be executed by a declarant under 05 AS 34.08.170(b) or 34.08.180, [OR] by the association under AS 34.08.140(d), 06 34.08.160(c), 34.08.200(a), 34.08.210, or 34.08.740, or by certain unit owners under 07 AS 34.08.160(b), 34.08.200(a), 34.08.210(b), or 34.08.260(b), and except as limited 08 by (d) or required by (f) of this section, a declaration, including any required plats 09 and plans, may be amended only by vote or agreement of unit owners of units 10 comprising either at least 67 percent of the allocated interests in the association or a 11 larger percentage specified in the declaration. A declaration may not specify a smaller 12 number unless all of the units are restricted exclusively to nonresidential use. 13 * Sec. 2. AS 34.08.250(d) is amended to read:
01 (d) Except to the extent expressly permitted or required in [BY OTHER 02 PROVISIONS OF] this chapter, an amendment may not create or increase special 03 declarant rights, increase the number of units, or change the boundaries of a unit, the 04 allocated interests of a unit, or the uses to which a unit is restricted, in the absence of 05 unanimous consent of the unit owners. 06 * Sec. 3. AS 34.08.250 is amended by adding a new subsection to read: 07 (f) The time limits specified in a declaration described under 08 AS 34.08.130(a)(8) may be extended and additional development rights created if 09 persons entitled to cast at least 80 percent of the votes in the association, including 80 10 percent of the votes allocated to units not owned by the declarant, agree to the 11 extension or additional development rights. The agreement is effective 30 days after 12 an amendment to the declaration reflecting the terms of the agreement is recorded 13 unless all persons holding special declarant rights affected by the amendment or 14 security interests in those rights 15 (1) record a written objection within the 30-day period, in which case, 16 the amendment is void; or 17 (2) consent in writing when the amendment is recorded, in which case, 18 the amendment is effective when recorded.