HB 641 Summary

• Establishes a procedure for condominium associations to adopt power of sale language into their governing documents through board action, with at least 14 days' notice to unit owners and opportunity to be heard.

• Specifies that power of sale language may be incorporated in substantially the form: "The governing documents of the association shall be deemed to include a power of sale, sufficient in form and substance to enable the foreclosure of the lien of the association."

• Clarifies that condominium associations may foreclose on liens through nonjudicial foreclosure if power of sale language is contained in the association's governing documents or in another agreement with the unit owner.

• Allows unit owners to preserve a potential constitutional defense by delivering a written objection to the association by certified mail within 60 days after board adoption of the power of sale language.

• Effective January 1, 2050; includes a severability clause and states the Act shall not impair contracts existing before its effective date in violation of state or federal constitution.