Bill Title: Amends the Condominium Property Act. Provides that once a condominium association has at least one member other than the developer, condominium instruments shall be amended only, unless the Act provides otherwise (rather than not allowing for an exception), by: (i) an affirmative vote of two-thirds of those voting or by a majority vote margin specified by the condominium instruments, provided that the specified majority vote margin may not exceed a three-quarters vote of all unit owners; and (ii) any required mortgagee's approval. Deletes provisions which state, unless the Act provides otherwise, that: (i) no condominium instrument shall require more than a three-quarters vote of unit owners to amend the bylaws, unless the property's declaration is recorded on or after July 1, 1984; and (ii) no condominium instrument amendment shall change: any unit boundaries; a unit's interest in the common elements; the number of votes in the unit owners' association; or a unit's liability for common expenses. [Track Bill]

Status: 2013-01-08 - Session Sine Die [SB2848 Detail]

Text: Latest bill text (Introduced) [HTML]

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