The bill amends Louisiana law regarding common interest ownership properties, specifically the Planned Community Act, by introducing new definitions and regulations for the creation, alteration, and termination of planned communities. It replaces the term "Homeowners Association" with "Planned Community" to reflect a broader governance scope and clarifies various terms such as "association," "common area," and "lot." The legislation emphasizes electronic communication in governance, establishes voting procedures, and outlines the responsibilities of owners' associations and board members. Key provisions include the requirement for a two-thirds vote for community termination, the establishment of class voting, and the allocation of common expense liabilities among lot owners.

Additionally, the bill mandates that associations maintain transparency and accountability, requiring them to conduct meetings according to Robert's Rules of Order and to provide access to records upon request. It introduces regulations for planned communities with more than twenty-five lots, including the submission of annual budgets for owner ratification. The bill also enhances consumer protections by detailing the requirements for public offering statements and the rights of purchasers, including the ability to cancel contracts if the statement is not received. Overall, the legislation aims to improve the governance and operational framework of planned communities while safeguarding the rights of both lot owners and associations.

Statutes affected:
SB23 Original: 9:7(B)(3), 9:3132(1)
SB23 Engrossed: 9:7(B)(3), 9:3132(1)
SB23 Enrolled: 9:7(B)(3), 9:3132(1)
SB23 Act : 9:7(B)(3), 9:3132(1)