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:
Deny or delegate control over the general administrative affairs of the association by the unit owners or the board of directors.
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.
Source: This content is sourced from the online version of the Arizona Revised Statutes located at www.azleg.gov.
Disclaimer: These statutes are provided as a courtesy by CHDB Law LLP. CHDB Law cannot guarantee that the statutes set forth on the website or in our published guide will not be found to be defective by a court or other tribunal after the date the books or online material are published. The HOA Knowledge Base does not attempt to include every statute that could apply to a community association issue. There may be other statutes or applicable laws that have a bearing on a particular legal issue confronted by a community association. These statutes are provided as a reference only. If a particular legal issue is confronted by a community association, the association should seek legal advice from competent attorneys.
We help planned communities, homeowner associations, and condo associations.
Our accomplished attorneys are well-versed in navigating the intricacies of State and local regulations impacting your community association or business. If you have a question, we’re just a phone call away. Call our toll-free number at (800) 743-9324 or contact us via email to discuss your specific concerns and questions.
