HB 269 Summary

• Amends AS 34.08.250(a) to clarify that declarations for common interest communities may be amended by vote or agreement of unit owners holding at least 67 percent of allocated interests, with exceptions for specific amendments allowed by the association or certain unit owners under designated code sections.

• Modifies AS 34.08.250(d) to require unanimous consent of unit owners for amendments that create or increase special declarant rights, increase the number of units, or change unit boundaries, allocated interests, or permitted uses.

• Adds new AS 34.08.250(f) allowing extensions of time limits and additional development rights specified in a declaration if at least 80 percent of votes in the association agree, including 80 percent of votes from units not owned by the declarant.

• Provides that declaration amendments extending time limits or creating additional development rights become effective 30 days after recording, unless holders of special declarant rights or security interests object in writing within 30 days (voiding the amendment) or provide written consent when the amendment is recorded (making it immediately effective).