House Bill No. establishes the Uniform Common Interest Ownership Act, which provides a comprehensive framework for the creation and management of common interest communities, including cooperatives and planned communities. The bill outlines processes for adopting governing instruments, classifying property, and acquiring property through eminent domain, while detailing the rights and responsibilities of unit owners associations and protections for purchasers. It introduces new sections defining key terms, specifies that provisions cannot be varied by agreement, and addresses the applicability of local ordinances, ensuring equitable treatment of common interest communities. Additionally, the bill mandates that declarations for these communities contain specific information and establishes that the declaration and bylaws are severable.

The bill also amends existing laws regarding the governance and operation of common interest communities, focusing on the rights of unit owners and responsibilities of associations. It allows for the delegation of powers to master associations, outlines procedures for amending declarations, and specifies requirements for meetings and voting. Furthermore, it clarifies liability issues, mandates insurance coverage, and establishes a statutory lien for assessments. The bill aims to enhance transparency, accountability, and fairness in the management of common interest communities while protecting the rights of unit owners and ensuring proper governance structures are in place.

Statutes affected:
LC Text: 15-8-111, 15-8-511, 35-2-525, 70-17-212, 70-17-901, 70-20-501, 76-2-305, 76-3-203, 76-4-111, 76-4-127, 76-25-402
HB0619_1(1): 15-8-111, 15-8-511, 35-2-525, 70-17-212, 70-17-901, 70-20-501, 76-2-305, 76-3-203, 76-4-111, 76-4-127, 76-25-402
HB0619_1(2): 15-8-111, 15-8-511, 35-2-525, 70-17-212, 70-17-901, 70-20-501, 76-2-305, 76-3-203, 76-4-111, 76-4-127, 76-25-402
HB0619_1(3): 15-8-111, 15-8-511, 35-2-525, 70-17-212, 70-17-901, 70-20-501, 76-2-305, 76-3-203, 76-4-111, 76-4-127, 76-25-402
HB0619_1(4): 15-8-111, 15-8-511, 35-2-525, 70-17-212, 70-17-901, 70-20-501, 76-2-305, 76-3-203, 76-4-111, 76-4-127, 76-25-402
HB0619_1: 15-8-111, 15-8-511, 35-2-525, 70-17-212, 70-17-901, 70-20-501, 76-2-305, 76-3-203, 76-4-111, 76-4-127, 76-25-402