Bill Text: IN SB0112 | 2012 | Regular Session | Introduced
Bill Title: Homeowners association covenants.
Sponsorship: Partisan Bill (Republican 1)
Status: (Introduced - Dead) 2012-01-04 - First reading: referred to Committee on Judiciary [SB0112 Detail]
Download: Indiana-2012-SB0112-Introduced.html
Citations Affected: IC 32-21-2.
Synopsis: Homeowners association covenants. Provides that if the
tracts of land included as part of one homeowners association are not
all subject to the same homeowners association covenants, all the tracts
may be made subject to the same covenants if the homeowners
association: (1) distributes to the owner of each tract a proposed set of
covenants that would apply to all tracts included as part of the
homeowners association and a petition to be signed by each tract owner
on which the owner indicates whether the owner approves or
disapproves of applying the proposed covenants to all tracts included
as part of the homeowners association; and (2) submits the petitions
and covenants to the county recorder if more than two-thirds of all tract
owners approve of applying the covenants to all tracts included as part
of the homeowners association. Specifies that homeowners association
covenants submitted to a county recorder in accordance with these
procedures are considered to be recorded on the date they are submitted
to the recorder.
Effective: July 1, 2012.
January 4, 2012, read first time and referred to Committee on Judiciary.
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A BILL FOR AN ACT to amend the Indiana Code concerning
property.
(1) is organized and operated exclusively for the benefit of two (2) or more persons who each own a dwelling in fee simple;
(2) acts, in accordance with bylaws governing the corporation or entity, to:
(A) acquire, transfer, manage, repair, maintain, or engage in construction on or in the land and improvements on the land related to the use of the dwellings owned by the members of the corporation or entity;
(B) purchase insurance to cover a casualty or an activity on or in the land and improvements on the land;
(C) engage in an activity incidental to an activity described in clause (A) or (B); or
(D) engage in more than one (1) of the activities described
in clauses (A) through (C); and
(3) may be governed by a board that serves the purpose of
setting policy and controlling or otherwise overseeing the
activities or functional responsibilities of the corporation or
entity.
(b) If the tracts included as part of one (1) homeowners association are not all subject to the same homeowners association covenants, the covenants may be recorded by the homeowners association using one (1) of the following methods:
(1) The homeowners association covenants may be recorded in accordance with section 3 of this chapter.
(2) Notwithstanding any bylaws of the homeowners association concerning amendments or revisions to homeowners association covenants, the homeowners association may:
(A) distribute to the owner of each tract included as part of the homeowners association:
(i) a proposed set of homeowners association covenants that would apply to all tracts included as part of the homeowners association; and
(ii) a petition to be signed by each tract owner on which the owner indicates whether the owner approves or disapproves of applying the proposed covenants to all tracts included as part of the homeowners association; and
(B) submit the petitions and covenants to the county recorder if:
(i) more than two-thirds (2/3) of all tract owners approve of applying the covenants to all tracts included as part of the homeowners association, as indicated by the petitions signed by the tract owners; and
(ii) the signature of each tract owner has been affirmed before a notary public, or an officer of the homeowners association submits an affidavit with the covenants and the petitions that verifies and certifies the signatures on the petitions.
Homeowners association covenants submitted to a county recorder in accordance with this subdivision are considered to be recorded on the date they are submitted to the recorder.
