INDIANA STATE HOUSE BILL No. 1406
DIGEST OF INTRODUCED BILL
Citations Affected: IC 2-5-37; IC 32-21-5-8.5; IC 32-25; IC 32-25.5.
Synopsis: Homeowners associations; condominiums. Requires that certain disclosures must be made relating to the sale of property subject to a homeowners association. Describes conditions under which a condominium declaration may be amended. Describes analogous conditions under which the governing documents of a homeowners association may be amended. Removes a geographic restriction on the application of a provision relating to the consent necessary for the co-owners of a condominium to convey common areas and facilities.
Provides that certain requirements must be met for a meeting of the board of directors of a homeowners association. Establishes a procedure to resolve certain disputes between a co-owner and a condominium association. Establishes an analogous procedure to resolve disputes between a member and a homeowners association. Provides that certain requirements must be met for a proxy to be valid if used at a meeting of a homeowners association. Reorganizes certain statutes relating to homeowners associations. Repeals certain statutes that are reorganized. Establishes the homeowners association study committee. Requires the study committee to study homeownersassociations in Indiana, including mediation or arbitration of disputes involving homeowners associations and members of homeowners associations. Provides that the law establishing the committee expires January 1, 2017.
Effective: July 1, 2015 DOWNLOAD PDF FILE HERE: IN-HB-1406