summary
Introduced
01/19/2022
01/19/2022
In Committee
Crossed Over
Passed
Dead
02/17/2022
02/17/2022
Introduced Session
2022 Regular Session
Bill Summary
AN ACT RELATING TO HOMEOWNER ASSOCIATIONS; REQUIRING THAT NO LESS THAN SEVENTY-FIVE PERCENT OF THE BOARD OF A HOMEOWNER ASSOCIATION BE ELECTED BY LOT OWNERS AFTER SEVENTY-FIVE PERCENT OF LOTS ARE NO LONGER OWNED BY THE DECLARANT; REMOVING EXCEPTIONS FOR MASTER PLANNED COMMUNITIES.
AI Summary
This bill requires that no less than 75% of the board of a homeowner association be elected by lot owners after 75% of lots are no longer owned by the declarant. It removes the previous exception for master planned communities, meaning this requirement now applies to all homeowner associations. The bill aims to increase the involvement and control of homeowners in the governance of their homeowner associations, rather than allowing the declarant to maintain control for an extended period.
Sponsors (1)
Last Action
Action Postponed Indefinitely (on 01/19/2022)
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=86&year=22 |
| BillText | https://www.nmlegis.gov/Sessions/22%20Regular/bills/senate/SB0086.pdf |
Loading...