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MO HB2405
Bill
Status
3/30/2010
Primary Sponsor
Dwight Scharnhorst
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AI Summary
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Repeals and replaces section 448.2-117 of Missouri Revised Statutes regarding condominium property amendments.
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Changes the consent requirement from unanimous to two-thirds majority 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.
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Maintains the existing 67 percent majority vote requirement for general declaration amendments, with option for declarations to specify a larger majority or smaller majority if all units are restricted to nonresidential use.
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Establishes a one-year statute of limitations for challenging the validity of amendments adopted by the association.
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Requires all amendments to be recorded in every county where the condominium is located and indexed in the names of the condominium, association, and executing parties to be effective.
Legislative Description
Reduces the consent requirement to two-thirds of the owners when making certain changes by amendment to a condominium's declaration
Last Action
Referred: Small Business (H)
5/14/2010