SB 882

Abstract

Amends the Common Interest Community Association Act. Provides that the association shall have one class of voting membership (instead of "one class of membership") unless the declaration, bylaws, or operating agreement provide otherwise. Makes a similar change in the Condominium Property Act. Further amends the Condominium Property Act. Deletes language providing that if the property contains 4 or more units, the owners may agree to sell the property by a vote of 75%. Provides instead that if the property contains at least 4 but not more than 6 units, a vote of 75% of the owners is required to sell the condominium property. Provides that if the property contains 7 or more units, a vote of 85% of the owners is required to sell the condominium property.