Kentucky
General Assembly

Search

House Bill 433

Actions | Amendments

Last Action	signed by Governor (Acts ch. 99)
Title	AN ACT relating to condominiums and declaring an emergency.
Bill Documents	Bill
Bill Request Number	1159
Sponsor	J. Tilley
Summary of Original Version	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.
Index Headings of Original Version	Property - Condominiums Property Valuation Administrators - Condominiums, unit joinder Real Estate - Condominiums Associations - Condominium owners Banks and Financial Institutions - Condominium associations. liens, priority Deeds and Conveyances - Condominiums, certficates of sale Effective Dates, Emergency - Condominiums, lien priority, BR 1159
Proposed Amendments	House Committee Substitute 1
Votes	Vote History

Actions

Top | Amendments

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

Proposed Amendments

Top | Actions

Amendment	House Committee Substitute 1
Summary	Retain original provisions; amend to provide that all financial statements are to be prepared by certified public accountants; declare an EMERGENCY.
Index Headings	Property - Condominiums Property Valuation Administrators - Condominiums, unit joinder Real Estate - Condominiums Associations - Condominium owners Banks and Financial Institutions - Condominium associations. liens, priority Deeds and Conveyances - Condominiums, certficates of sale Effective Dates, Emergency - Condominiums, lien priority, BR 1159

Last updated: 8/27/2019 8:05 PM (EDT)