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.
|New today||2-4 days old||5 days & older|
|1/11/2013||Referred to Joint Committee on Judiciary|