REFERENCE TITLE: planned communities; declarant control

State of Arizona

House of Representatives

Fifty-sixth Legislature

Second Regular Session

2024

HB 2698

Introduced by

Representative Carter

An Act

amending title 33, chapter 16, article 1, Arizona Revised Statutes, by adding section 33-1820; relating to planned communities.

(TEXT OF BILL BEGINS ON NEXT PAGE)

Be it enacted by the Legislature of the State of Arizona:

Section 1. Title 33, chapter 16, article 1, Arizona Revised Statutes, is amended by adding section 33-1820, to read:

START_STATUTE33-1820. Declarant control

The declaration may provide for a period of declarant control of the association, during which period a declarant or persons designated by the declarant may appoint and remove the officers and members of the board of directors.  Regardless of the period provided in the declaration, a period of declarant control terminates not later than the earlier of:

1. Ninety days after conveyance of seventy-five percent of the lots that may be created to members other than a declarant.

2. Four years after all declarants have ceased to offer lots for sale in the ordinary course of business.END_STATUTE