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.