Utah Code 57-8-55. Consolidation of multiple associations of unit owners
Current as of: 2023 | Check for updates
|
Other versions
(1) | Two or more associations of unit owners may be consolidated into a single association of unit owners as provided in 11, and this section. |
(a) | acting as a group in accordance with the declaration and bylaws; or |
(b) | organized as a legal entity in accordance with the declaration. See Utah Code 57-8-3 |
(2) | Unless the declaration, articles, or bylaws otherwise provide, a declaration of consolidation between two or more associations of unit owners to consolidate into a single association of unit owners is not effective unless it is approved by the unit owners of each of the consolidating associations of unit owners, by the highest percentage of allocated voting interests of the unit owners required by each association of unit owners to amend its respective declaration, articles, or bylaws. |
(4) | A declaration of consolidation under Subsection (2) is not effective until it is recorded in the office of each applicable county recorder. |
(5) | Unless otherwise provided in the declaration of consolidation, the consolidated association of unit owners resulting from a consolidation under this section:
|
Enacted by Chapter 152, 2013 General Session