resources / Statutes / Condominiums / §33-1229
Title 33 – Property
Chapter 9 – Condominiums
Article 2 – Creation, Alteration and Termination of Condominiums
- The declaration may require that all or a specified number or percentage of the mortgagees, beneficiaries of deeds of trust or sellers under contracts, as defined in section 33-741, for conveyance of real property encumbering the units approve specified actions of the unit owners or the association as a condition to the effectiveness of those actions, but requirement for approval shall not operate to either:
- 1. Deny or delegate control over the general administrative affairs of the association by the unit owners or the board of directors.
- 2. Prevent the association or the board of directors from commencing, intervening in or settling any litigation or proceeding, or receiving and distributing any insurance proceeds pursuant to section 33-1253.