Bill Text: AZ HB2698 | 2024 | Fifty-sixth Legislature 2nd Regular | Introduced
Bill Title: Declarant control; planned communities
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2024-04-09 - Chapter 124 [HB2698 Detail]
Download: Arizona-2024-HB2698-Introduced.html
|
REFERENCE TITLE: planned communities; declarant control |
|
State of Arizona House of Representatives Fifty-sixth Legislature Second Regular Session 2024
|
|
HB 2698 |
|
|
|
Introduced by Representative Carter
|
An Act
amending title 33, chapter 16, article 1, Arizona Revised Statutes, by adding section 33-1820; relating to planned communities.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Title 33, chapter 16, article 1, Arizona Revised Statutes, is amended by adding section 33-1820, to read:
33-1820. Declarant control
The declaration may provide for a period of declarant control of the association, during which period a declarant or persons designated by the declarant may appoint and remove the officers and members of the board of directors. Regardless of the period provided in the declaration, a period of declarant control terminates not later than the earlier of:
1. Ninety days after conveyance of seventy-five percent of the lots that may be created to members other than a declarant.
2. Four years after all declarants have ceased to offer lots for sale in the ordinary course of business.
