KY HB433 | 2012 | Regular Session

Kentucky House Bill 433 (Prior Session Legislation)

Status

Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Passed on April 11 2012 - 100% progression
Action: 2012-04-11 - signed by Governor (Acts ch. 99)
Text: Latest bill text (Draft #2) [MS Word]

Summary

Amend KRS 381.9105 to define "capital expenditure" and redefine "condominium" and "unit"; amend KRS 381.9145 to provide that a joinder of units does not alter the method of valuation; amend KRS 381.9167 to establish a fee structure for the issuance of a certificate necessary for the sale of a condominium, and provide an alternative method for making emergency assessments or repeal thereof; amend KRS 381.9179 to reduce the number of owners necessary to establish a quorum for the association to conduct of business; amend KRS 381.9187 to delete the requirement that an insurer of the association provide certificates of insurance related to common elements to every unit owner; amend KRS 381.9193 as it relates to the provide for association liens; amend KRS 381.9197 to require associations to prepare annual financial reports in accordance with standards based upon the income level of the association; amend KRS 381.9201 to exempt specified transfers from the sale certificate requirements; amend KRS 381.9203 to identify the required contents of a sale certificate; create a new section of KRS 381.9101 to 381.9207 to establish ethical standards for association board members and officers; amend KRS 381.9103, 381.9155, 381.9169, and 381.9175 to conform; repeal KRS 381.865; EMERGENCY.

Title

AN ACT relating to condominiums and declaring an emergency.

History

Date	Chamber	Action
2012-04-11		signed by Governor (Acts ch. 99)
2012-03-30		delivered to Governor
2012-03-30		enrolled, signed by President of the Senate
2012-03-29		enrolled, signed by Speaker of the House
2012-03-28		received in House
2012-03-28		3rd reading, passed 37-0
2012-03-28		posted for passage in the Consent Orders of the Day for Wednesday, March 28, 2012
2012-03-23		2nd reading, to Rules
2012-03-22		reported favorably, 1st reading, to Consent Calendar
2012-03-15		to Judiciary (S)
2012-03-13		received in Senate
2012-03-12		3rd reading, passed 95-0 with Committee Substitute
2012-03-08		posted for passage in the Consent Orders of the Day for Monday, March 12, 2012
2012-03-08		2nd reading, to Rules
2012-03-07		reported favorably, 1st reading, to Consent Calendar with Committee Substitute
2012-02-27		posted in committee
2012-02-22		to Judiciary (H)
2012-02-21		introduced in House