A BILL TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 27180, SO AS TO REQUIRE THE DEVELOPER OF A COMMON INTEREST COMMUNITY TO TRANSFER CONTROL OF THE HOMEOWNERS’ ASSOCIATION BY PHASING UNIT OWNERS ONTO THE EXECUTIVE BOARD OF THE ASSOCIATION AFTER A CERTAIN PERCENTAGE OF THE UNITS ARE CONVEYED. Be it enacted by the General Assembly of the State of South Carolina: SECTION 1. Chapter 1, Title 27 of the 1976 Code is amended by adding: (A) As used in this section: “Section (1) the unit owners’ association organized ‘Association’ no later than the date the first unit in the common interest community is conveyed and is organized as a business or nonstock corporation, trust, partnership, or unincorporated association. The term also includes a homeowners’ association. (2) elements’ means: ‘Common (a) in the case of: (i) a condominium or cooperative, all portions of the common interest community other than the units; and (ii) a planned community, any real property within a planned community owned or leased by the association, other than a unit; (b) in all common interest communities, any other interests in real property for the benefit of unit owners which are subject to the declaration. (3) interest community’ means real property ‘Common described in a declaration with respect to which a person, by virtue
A BILL TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 27180, SO AS TO REQUIRE THE DEVELOPER OF A COMMON INTEREST COMMUNITY TO TRANSFER CONTROL OF THE HOMEOWNERS’ ASSOCIATION BY PHASING UNIT OWNERS ONTO THE EXECUTIVE BOARD OF THE ASSOCIATION AFTER A CERTAIN PERCENTAGE OF THE UNITS ARE CONVEYED. Be it enacted by the General Assembly of the State of South Carolina: SECTION 1. Chapter 1, Title 27 of the 1976 Code is amended by adding: “Section (A) As used in this section: (1) ‘Association’ the unit owners’ association organized no later than the date the first unit in the common interest community is conveyed and is organized as a business or nonstock corporation, trust, partnership, or unincorporated association. The term also includes a homeowners’ association. (2) ‘Common elements’ means: (a) in the case of: (i) a condominium or cooperative, all portions of the common interest community other than the units; and (ii) a planned community, any real property within a planned community owned or leased by the association, other than a unit; (b) in all common interest communities, any other interests in real property for the benefit of unit owners which are subject to the declaration. (3) ‘Common interest community’ means real property described in a declaration with respect to which a person, by virtue