§514A-83 - Purchaser's right to vote.
§514A-83
Purchaser's right to vote. The
purchaser of an apartment pursuant to an agreement of sale recorded in the
bureau of conveyances or land court shall have all the rights of an apartment
owner, including the right to vote; provided that the seller may retain the
right to vote on matters substantially affecting the seller's security interest
in the apartment, including but not limited to the right to vote on:
(1) Any partition of all or part of the project;
(2) The nature and amount of any insurance covering
the project and the disposition of any proceeds thereof;
(3) The manner in which any condemnation of the
project shall be defended or settled and the disposition of any award or
settlement in connection therewith;
(4) The payment of any amount in excess of insurance
or condemnation proceeds;
(5) The construction of any additions or
improvements, and any substantial repair or rebuilding of any portion of the
project;
(6) The special assessment of any expenses;
(7) The acquisition of any apartment in the project;
(8) Any amendment to the declaration of condominium
property regime or bylaws;
(9) Any removal of the project from the provisions of
this chapter; and
(10) Any other matter which would substantially affect
the security interest of the seller. [L
2007, c 244, pt of §2]