AN ACT RELATING TO PROPERTY -- CONDOMINIUM LAW

SB 2644 establishes a formal process for condominium associations to notify and seek approval from mortgage holders before taking specific actions. Under this bill, associations must mail written requests to lenders, who are considered to have approved the action if they do not respond with a written denial within 65 days. The law clarifies that lenders cannot use this approval requirement to control the association's general administration or legal proceedings, ensuring the process remains focused on specific decisions. This change applies to condominiums created after July 1, 1982, and allows older condominiums to voluntarily adopt these rules through a written agreement.