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HB 312: "An Act relating to common interest communities."

00                            HOUSE BILL NO. 312                                                                           
01 "An Act relating to common interest communities."                                                                       
02 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
03    * Section 1. AS 34.08.040 is amended by adding a new subsection to read:                                           
04            (b)  Under (a) of this section, the application of AS 34.08.470 to the                                       
05       declaration of a common interest community created before January 1, 1986, does not                               
06       invalidate the declaration when a lien for assessment takes priority under                                        
07       AS 34.08.470 over a deed of trust or mortgage that is recorded on or after January 1,                             
08       1986, even if the declaration prohibits or conflicts with AS 34.08.470.