35-8-20
Section 35-8-20 Termination of condominium. (a) The condominium property may be removed from
the provisions of this chapter provided that all unit owners agree and all holders of record
of liens affecting any of the units consent or agree, in either case by instruments duly recorded,
that their liens be transferred to the undivided share of the unit owner in the property as
hereinafter provided. (b) A circuit court may grant the petition of any unit owner for a removal
of the condominium property from the provisions of this chapter and a partition under the
following circumstances: (1) In the event of total destruction of all improvements of the
condominium property and no agreement is reached to rebuild such improvements within a reasonable
time, or such rebuilding has not been completed within a reasonable time. (2) In the event
of substantial destruction, deterioration, or obsolescence of the condominium property and
no agreement is reached to repair, reconstruct, or rebuild such...
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35-8-5
Section 35-8-5 Unit ownership, possession, and enjoyment. Any unit may be held and owned by
one or more persons in any form of ownership, real estate tenancy, or relationship recognized
under the laws of this state. A unit may be used for residential, commercial, industrial,
professional, or any other use not prohibited by law. There shall be included with each unit
the following: (1) The private elements as set forth in the declaration. (2) An undivided
interest in such limited common elements as may be set forth in the declaration. (3) The right
of ownership and to exclusive use and possession of such private elements. (4) The right to
use such common elements and limited common elements in accordance with the declaration and
bylaws, but consistent with the lawful rights of other unit owners. (5) An exclusive easement
for the use of any air space occupied by the private elements as they exist at any particular
time and as they may lawfully be altered or reconstructed from time to...
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35-8-10
Section 35-8-10 Bylaws of association. The bylaws govern the administration and management
of the condominium property by the association. In addition to such other provisions as may
be desired, not inconsistent with this chapter or the declaration, the bylaws shall contain:
(1) The form of administration, indicating the titles of the officers and governing board
of the association, if any, and specifying the powers, duties, and manner of selection, removal,
and compensation, if any, of officers and board members. (2) The name and residence address
of the person designated as agent to receive service of process upon the association if the
association is not incorporated. Such agent must be a resident of this state. (3) The method
of calling meetings of unit owners, the percentage of unit owners or voting rights required
to make decisions regarding administration and management of the condominium property and
to constitute a quorum, but such bylaws may nevertheless provide that unit...
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35-8-18
Section 35-8-18 Blanket mortgage on condominium property. Notwithstanding any other provision
of this chapter, if the declaration or bylaws so permit, the entire condominium property or
some or all of the units included therein may be subject to a single or blanket mortgage constituting
a first lien thereon created by recordable instrument by all of the owners of the property
or units covered thereby; and any unit included under the lien of such mortgage may be sold
or otherwise conveyed or transferred subject thereto. The instrument creating any such mortgage
shall provide a method whereby any unit owner may obtain a release of his unit from the lien
of such mortgage and a satisfaction and discharge in recordable form upon payment to the holder
of the mortgage of a sum equal to the proportionate share attributable to his unit of the
then outstanding balance of unpaid principal and accrued interest and any other charges then
due and unpaid. Such proportionate share attributable to each...
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35-8A-209
Section 35-8A-209 Plats and plans. (a) A clear and legible plat of the condominium property
and plans, if required under subsection (d), shall be recorded in the office of the judge
of probate in every county in which any portion of the condominium is located and shall contain
a certification that the plat and plans, if any contain all information required by this section.
If the plat contains all of the information described in subsections (b), (c), (d), and (g),
plans are not required. The recorded plan and plans are part of the declaration. (b) Each
plat must show: (1) The name of the condominium and a survey of the real property included
in the condominium; (2) The location and dimensions of all existing improvements located on
the condominium property; (3) The location and dimensions of any real estate subject to development
rights reserved over any part of the condominium property, labeled to identify the rights
applicable to each identified portion, but the plat need not...
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35-20-13
Section 35-20-13 Records. (a) A homeowners' association subject to this chapter shall maintain
records and information to be made available to each member or potential purchaser, upon written
request, within a reasonable time not to exceed 30 days from the date of the request, and
upon the payment of reasonable associated costs. Any homeowners' association may provide the
records and information in paper or electronic form or direct the member or potential purchaser
to the location of any public record containing the records or information. (b) Upon written
request by a member or potential purchaser and upon payment of reasonable costs, the homeowners'
association, as specified in subsection (a), shall provide or direct the member or potential
purchaser to the location of the public record containing the following: (1) Documents reflecting
the most recent assessments, any pending homeowners' association assessments approved by the
board but not yet in effect, or any mandatory dues and...
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35-19-3
Section 35-19-3 Requirements for environmental covenants. (a) Any person, including a person
that owns an interest in the real property, an agency, or a municipality or other unit of
local government, may be a holder. An environmental covenant may identify more than one holder.
The interest of a holder is an interest in real property. (b) A right of an agency under this
chapter or under an environmental covenant, other than a right as a holder, is not an interest
in real property. (c) An agency is bound by any obligation it assumes in an environmental
covenant, but an agency does not assume obligations merely by signing an environmental covenant.
Any other person that signs an environmental covenant is bound by the obligations the person
assumes in the covenant, but signing the covenant does not change obligations, rights, or
protections granted or imposed under law other than this chapter except as provided in the
covenant. (d) The following rules apply to interests in real property...
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11-50A-8
Section 11-50A-8 Powers of the authority. In addition to other powers granted the authority
by this chapter, it shall have all powers consistent with the purposes of the authority as
set forth in Section 11-50A-3, which are necessary or convenient to carry out and effectuate
the purposes and provisions of this chapter, including, but without limiting the generality
of the foregoing, the following enumerated powers, which shall be exercised by the authority
consistently with the provisions of Section 11-50A-3: (1) To sue and be sued and to prosecute
and defend in any court having jurisdiction of the subject matter and of the parties thereto;
(2) To adopt and alter a corporate seal; (3) To make and alter at pleasure all needful bylaws,
rules, and regulations for the transaction of its business and the control of its property
and affairs; (4) To have the same right of eminent domain through condemnation conferred by
Section 10-5-1, or any subsequent statute of similar import; provided...
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35-20-5
Section 35-20-5 Organization of associations; filing requirements; rulemaking authority; organizational
documents. (a) On or after January 1, 2016, a homeowners' association created pursuant to
a declaration shall be organized as a nonprofit corporation pursuant to Chapter 3 of Title
10A, and shall be governed in all respects as a nonprofit corporation. (b)(1) A homeowners'
association, its members, and directors shall be subject to all of the obligations, duties,
and responsibilities of and shall have all of the rights and benefits provided in Chapter
3 of Title 10A. (2) In addition or supplemental to any other filing required in Chapter 3
of Title 10A, a homeowners' association shall file the following documents with the Secretary
of State: a. Articles of incorporation. b. Bylaws, resolutions, or other governing documents
of the association. c. The original covenants, conditions, or restrictions adopted by the
association. (3) The Secretary of State shall implement and maintain an...
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34-27-58
Section 34-27-58 Acts constituting violation of article - Failure to place 50 percent of cash,
etc., received in escrow; failure to provide liability insurance, etc. (a) It shall be a violation
of this article for a seller of vacation time-sharing lease plans to fail to: (1) Place in
escrow 50 percent of the cash and receivables received from the purchasers of such plans,
such receivables to be assessed at net principal value. a. The purpose of such escrow account
is to protect the purchaser's right to a refund if at any time the accommodations and facilities
are no longer available as provided in the contract; provided however, nothing contained in
this section shall operate to deny the seller the option to repair, replace, or reconstruct,
within a reasonable time, the accommodations or facilities, if destroyed or damaged. b. The
purchaser shall be entitled to a refund from the escrow account upon the conditions described
above in an amount which represents the buyer's pro rata share...
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