The proposed bill, HB2698, amends existing laws regarding the termination of declarant control in homeowners' associations (HOAs) within planned communities. It mandates that any declaration establishing a period of declarant control must include a specific date or method for determining when that control will end. Additionally, it stipulates that declarant control must terminate no later than the date the second to last lot in the community is sold, regardless of what the community documents state.

Furthermore, after the termination of declarant control, if the declarant still owns lots in the community, the HOA is required to maintain at least the same level of upkeep for common areas as was provided by the declarant. The HOA must also ensure that it does not hinder the declarant's ability to develop or sell their properties, nor restrict their access to common areas, treating them similarly to other community members. This bill aims to enhance transparency and fairness in the governance of planned communities.

Statutes affected:
Introduced Version: 33-1820
House Engrossed Version: 33-1820
Chaptered Version: 33-1820