46:8B-36 - Master deeds or bylaws of association;Ā rebuttable presumption ofĀ unconscionability
46:8B-36.Ā Master deeds or bylaws of association;Ā rebuttable presumption ofĀ unconscionability
There is hereby established a rebuttable presumption of unconscionability with respect to provisions of master deeds or association bylaws recorded priorĀ to the effective date of this act which shall arise whenever such a master deedĀ or by laws shall contain any provision or clause affording the developer or theĀ association a right of first refusal to buy a condominium unit upon resale,Ā gift or devise by the condominium unit owner.Ā Such presumption may be rebuttedĀ by the developer or the association by the presentation of evidence of theĀ existence of facts and circumstances sufficient to justify and validate aĀ provision of the master deed or the bylaws which would otherwise appear to beĀ unconscionable under the provisions of this section.
L.1979, c. 297, s. 6, eff. Jan. 17, 1980.Ā Amended by L.1980, c. 103, s. 2, eff. Sept. 11, 1980.
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There is hereby established a rebuttable presumption of unconscionability with respect to provisions of master deeds or association bylaws recorded priorĀ to the effective date of this act which shall arise whenever such a master deedĀ or by laws shall contain any provision or clause affording the developer or theĀ association a right of first refusal to buy a condominium unit upon resale,Ā gift or devise by the condominium unit owner.Ā Such presumption may be rebuttedĀ by the developer or the association by the presentation of evidence of theĀ existence of facts and circumstances sufficient to justify and validate aĀ provision of the master deed or the bylaws which would otherwise appear to beĀ unconscionable under the provisions of this section.
L.1979, c. 297, s. 6, eff. Jan. 17, 1980.Ā Amended by L.1980, c. 103, s. 2, eff. Sept. 11, 1980.
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