CS for CS for SB 680 - Residential Properties

• Exempts elevators in residential condominiums with certificates of occupancy before July 1, 2008 from Phase II Firefighters' Service requirements until replacement or major modification.

• Revises condominium board election procedures, including allowing 2-year staggered terms and establishing 60-day time limits for challenging election results.

• Creates new framework for "secondary condominiums" within condominium parcels, establishing primary and secondary associations with specified approval rights and assessment responsibilities.

• Modifies restrictions on mortgagee consent for amendments to condominium, cooperative, and homeowners association documents recorded after July 1, 2012, limiting consent requirements to amendments materially affecting mortgagee rights.

• Establishes 60-day filing windows for challenging board recalls, provides procedures for disputed recalls through arbitration, and adds protections for suspended voting interests in calculating quorum and election requirements.