Proposed S.B. No. 119
Session Year 2013
 


AN ACT CONCERNING APPROVAL BY CONDOMINIUM UNIT OWNERS OF A PROPOSED LOAN AGREEMENT WHICH INCLUDES AN ASSIGNMENT OF THE ASSOCIATION'S RIGHT TO FUTURE INCOME AS SECURITY FOR THE LOAN.

To reform the process used in a common interest community for approval by condominium unit owners of a proposed loan agreement which includes an assignment of the association's right to future income as security for the loan.

Introduced by:
Sen. Paul R. Doyle, 9th Dist.
Rep. Joseph C. Serra, 33rd Dist.

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   Text of Bill
 Proposed Bill [pdf]

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Bill History

 Date Action Taken
 1/11/2013Referred to Joint Committee on Judiciary

Co-sponsors of SB-119

Rep. John K. Hampton, 16th Dist.

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