AR HB1354

Clarifies that restrictive covenants on real property are only effective if executed by affected property owners and recorded in the county recorder's office

Defines "affected property owners" as either the percentage specified in the covenant document, or if unspecified, property owners of more than 50% of the land area subject to the covenant

Allows restrictive covenants to be amended at any time unless the original instrument establishes a restriction period not to exceed 10 years

Permits amendments after 10 years from the recording date regardless of any amendment restrictions stated in the original covenant document

Establishes that duration and amendment requirement provisions in covenants are read independently so that duration limitations do not restrict the ability to amend at any time