This bill proposes to amend the Arizona Revised Statutes by adding a new section, 33-1801.01, which establishes specific conditions under which declarations of planned communities expire and associations dissolve. Under the new provisions, each declaration will become unenforceable and each association will dissolve on either January 1, 2127, or one hundred years after the original declaration was recorded, with the stipulation that amendments or the creation of new associations do not reset this time period.

Additionally, the bill outlines the process for winding up the affairs of a dissolved association and allows property owners in the terminated planned community to voluntarily reestablish a planned community after the dissolution. This introduces new legal frameworks for the management and longevity of planned communities, ensuring clarity on their expiration and the potential for reestablishment.

Statutes affected:
Introduced Version: 33-1801.01