Bill > SB23

This bill amends and reenacts the Civil Code and Louisiana Revised Statutes to establish the Louisiana Planned Community Act. The key provisions of the bill: - Define key terms and provide applicability of the Act, including exempting condominiums and timeshares. - Establish requirements for creating, amending, and terminating a planned community, including the contents of the declaration, allocations of common expenses and voting rights, and procedures for exercising development rights. - Provide for the organization and powers of the lot owners association, including adopting budgets, assessing and collecting fees, and enforcing the community documents. - Establish rules for meetings, voting, and records of the association. - Grant certain consumer protections for purchasers, including requirements for a public offering statement and warranties. - Specify the priorities and procedures for enforcing assessment privileges held by the association. The bill applies to newly formed planned communities starting January 1, 2025, and to existing planned communities starting January 1, 2026, with certain exceptions.

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https://www.legis.la.gov/legis/BillInfo.aspx?s=24rs&b=SB23&sbi=y