66-27-303 - Construction and validity of declaration and bylaws. - Tennessee Statutes

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66-27-303. Construction and validity of declaration and bylaws.

(a) All provisions of the declaration and bylaws are severable.

(b) The rule against perpetuities may not be applied to defeat any provision of the declaration, or the bylaws, rules, or regulations adopted pursuant to § 66-27-402(a)(1).

(c) In the event of a conflict between the provisions of the declaration and the bylaws, the declaration prevails except to the extent the declaration is inconsistent with part 2, this part and parts 4 and 5 of this chapter.

(d) Title to a unit and common elements is not rendered unmarketable or otherwise affected by reason of an insubstantial failure of the declaration to comply with part 2, this part and parts 4 and 5 of this chapter. Whether a substantial failure impairs marketability is not affected by part 2, this part and parts 4 and 5 of this chapter.

[Acts 2008, ch. 766, § 1.]

State Codes and Statutes

Statutes > Tennessee > Title-66 > Chapter-27 > Part-3 > 66-27-303

66-27-303. Construction and validity of declaration and bylaws.

(a) All provisions of the declaration and bylaws are severable.

(b) The rule against perpetuities may not be applied to defeat any provision of the declaration, or the bylaws, rules, or regulations adopted pursuant to § 66-27-402(a)(1).

(c) In the event of a conflict between the provisions of the declaration and the bylaws, the declaration prevails except to the extent the declaration is inconsistent with part 2, this part and parts 4 and 5 of this chapter.

(d) Title to a unit and common elements is not rendered unmarketable or otherwise affected by reason of an insubstantial failure of the declaration to comply with part 2, this part and parts 4 and 5 of this chapter. Whether a substantial failure impairs marketability is not affected by part 2, this part and parts 4 and 5 of this chapter.

[Acts 2008, ch. 766, § 1.]

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State Codes and Statutes

Statutes > Tennessee > Title-66 > Chapter-27 > Part-3 > 66-27-303

66-27-303. Construction and validity of declaration and bylaws.

(a) All provisions of the declaration and bylaws are severable.

(b) The rule against perpetuities may not be applied to defeat any provision of the declaration, or the bylaws, rules, or regulations adopted pursuant to § 66-27-402(a)(1).

(c) In the event of a conflict between the provisions of the declaration and the bylaws, the declaration prevails except to the extent the declaration is inconsistent with part 2, this part and parts 4 and 5 of this chapter.

(d) Title to a unit and common elements is not rendered unmarketable or otherwise affected by reason of an insubstantial failure of the declaration to comply with part 2, this part and parts 4 and 5 of this chapter. Whether a substantial failure impairs marketability is not affected by part 2, this part and parts 4 and 5 of this chapter.

[Acts 2008, ch. 766, § 1.]