Bill Text: IA SSB3134 | 2013-2014 | 85th General Assembly | Introduced
Bill Title: A study bill for an act relating to the continued effect of terms, conditions, covenants, and provisions contained in documents and instruments creating or regulating multiple housing cooperatives and horizontal property regimes and including applicability provisions.
Spectrum: Unknown
Status: (N/A - Dead) 0000-00-00 - In Judiciary [SSB3134 Detail]
Download: Iowa-2013-SSB3134-Introduced.html
Senate
Study
Bill
3134
-
Introduced
SENATE
FILE
_____
BY
(PROPOSED
COMMITTEE
ON
JUDICIARY
BILL
BY
CHAIRPERSON
HOGG)
A
BILL
FOR
An
Act
relating
to
the
continued
effect
of
terms,
conditions,
1
covenants,
and
provisions
contained
in
documents
and
2
instruments
creating
or
regulating
multiple
housing
3
cooperatives
and
horizontal
property
regimes
and
including
4
applicability
provisions.
5
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
6
TLSB
5474SC
(4)
85
rh/sc
S.F.
_____
Section
1.
NEW
SECTION
.
499A.23
Effect
of
documents
and
1
instruments.
2
1.
Unless
amended
or
terminated
by
this
chapter
or
by
the
3
following
documents
or
instruments,
all
terms,
conditions,
4
covenants,
and
provisions
contained
in
the
following
documents
5
or
instruments
shall
remain
in
full
force
and
effect
as
long
as
6
the
cooperative
remains
in
existence:
7
a.
The
articles
of
incorporation
of
the
cooperative
and
any
8
amendments
thereto.
9
b.
The
bylaws
of
the
cooperative
and
any
amendments
thereto.
10
c.
Any
proprietary
leases,
contracts,
or
other
agreements
11
between
the
cooperative
and
a
member
of
the
cooperative
or
12
between
members
of
the
cooperative.
13
d.
Any
property
interests
created
by
any
documents
or
14
instruments
specified
in
paragraph
“a”
,
“b”
,
or
“c”
.
15
2.
A
document
or
instrument
specified
in
subsection
1,
and
16
any
property
interests
created
by
such
document
or
instrument,
17
shall
not
be
extinguished,
limited,
or
impaired
by
application
18
of
section
558.68
or
614.24.
19
Sec.
2.
NEW
SECTION
.
499B.21
Effect
of
documents
and
20
instruments.
21
1.
Unless
amended
or
terminated
by
the
following
documents
22
or
instruments,
all
terms,
conditions,
covenants,
and
23
provisions
contained
in
the
following
documents
or
instruments
24
shall
remain
in
full
force
and
effect
as
long
as
the
horizontal
25
property
regime
remains
in
existence:
26
a.
The
declaration
of
the
horizontal
property
regime
and
any
27
amendments
thereto.
28
b.
The
articles
of
incorporation
of
the
horizontal
property
29
regime
and
any
amendments
thereto.
30
c.
The
bylaws
of
the
horizontal
property
regime
and
any
31
amendments
thereto.
32
d.
Any
property
interests
created
by
any
documents
or
33
instruments
specified
in
paragraph
“a”
,
“b”
,
or
“c”
.
34
2.
A
document
or
instrument
specified
in
subsection
1,
and
35
-1-
LSB
5474SC
(4)
85
rh/sc
1/
3
S.F.
_____
any
property
interests
created
by
such
document
or
instrument,
1
shall
not
be
extinguished,
limited,
or
impaired
by
application
2
of
section
558.68
or
614.24.
3
Sec.
3.
Section
558.68,
Code
2014,
is
amended
by
adding
the
4
following
new
subsection:
5
NEW
SUBSECTION
.
6.
This
section
shall
not
extinguish,
6
limit,
or
impair
the
validity
of
a
document
or
instrument
7
specified
in
section
499A.23
or
499B.21,
or
any
property
8
interests
created
by
such
document
or
instrument.
9
Sec.
4.
Section
614.24,
Code
2014,
is
amended
by
adding
the
10
following
new
subsection:
11
NEW
SUBSECTION
.
4.
This
section
shall
not
extinguish,
12
limit,
or
impair
the
validity
of
a
document
or
instrument
13
specified
in
section
499A.23
or
499B.21,
or
any
property
14
interests
created
by
such
document
or
instrument.
15
Sec.
5.
APPLICABILITY.
This
Act
applies
to
all
multiple
16
housing
cooperatives
and
horizontal
property
regimes
created
17
prior
to,
and
still
in
existence
on,
July
1,
2014,
and
created
18
on
or
after
July
1,
2014.
19
EXPLANATION
20
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
21
the
explanation’s
substance
by
the
members
of
the
general
assembly.
22
This
bill
relates
to
the
effect
of
terms,
conditions,
23
covenants,
and
provisions
contained
in
documents
and
24
instruments
creating
or
regulating
multiple
housing
25
cooperatives
and
horizontal
property
regimes.
26
The
bill
provides
that
unless
amended
or
terminated
by
27
Code
chapter
499A
(multiple
housing
cooperatives)
or
by
the
28
following
documents
or
instruments,
all
terms,
conditions,
29
covenants,
and
provisions
contained
in
the
following
documents
30
or
instruments,
and
any
property
interests
created
by
any
such
31
documents
or
instruments,
shall
remain
in
full
force
and
effect
32
as
long
as
the
cooperative
remains
in
existence:
the
articles
33
of
incorporation
and
the
bylaws
of
the
cooperative
and
any
34
amendments
thereto
and
any
proprietary
leases,
contracts,
or
35
-2-
LSB
5474SC
(4)
85
rh/sc
2/
3
S.F.
_____
other
agreements
between
the
cooperative
and
a
member
of
the
1
cooperative
or
between
members
of
the
cooperative.
2
The
bill
also
provides
that
unless
amended
or
terminated
3
by
Code
chapter
499B
(horizontal
property
regimes)
or
by
the
4
following
documents
or
instruments,
all
terms,
conditions,
5
covenants,
and
provisions
contained
in
the
following
documents
6
or
instruments,
and
any
property
interests
created
by
any
7
such
documents
or
instruments,
shall
remain
in
full
force
8
and
effect
as
long
as
the
cooperative
remains
in
existence:
9
the
declaration
of
the
horizontal
property
regime
and
any
10
amendments
thereto
and
the
articles
of
incorporation
and
the
11
bylaws
of
the
horizontal
property
regime
and
any
amendments
12
thereto.
13
The
bill
provides
that
the
rule
against
perpetuities
and
14
certain
provisions
relating
to
reversion
or
use
restrictions
on
15
land
shall
not
impair
the
validity
of
a
document
or
instrument
16
property
interest
specified
in
the
bill.
17
The
bill
applies
to
all
multiple
housing
cooperatives
and
18
horizontal
property
regimes
created
prior
to,
and
still
in
19
existence
on,
July
1,
2014,
and
created
on
or
after
July
1,
20
2014.
21
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5474SC
(4)
85
rh/sc
3/
3
