Revision: March 30, 2011, midnight
SB 54 – AS INTRODUCED
2011 SESSION
05/10
SENATE BILL 54
AN ACT repealing certain condominium registration and filing requirements.
SPONSORS: Sen. De Blois, Dist 18; Rep. Hinch, Hills 19
The bill repeals condominium registration and filing requirements with the department of justice established under the condominium act, RSA 356-B.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
11-0603
05/10
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Eleven
AN ACT repealing certain condominium registration and filing requirements.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Condominium; Contents of Declaration. Amend RSA 356-B:16, III(c) to read as follows:
(c) A time limit[, not exceeding 7 years from the recording of the declaration,] upon which the option to expand the condominium shall expire[, provided, however, that the time limit contained in the declaration may be extended by not more than 7 years by an amendment to the declaration adopted pursuant to RSA 356-B:54, V, together with a statement of the circumstances, if any, which will terminate that option prior to the expiration of the time limit so specified];
2 Condominium Act; Civil Remedy. Amend RSA 356-B:65, I to read as follows:
I. Any declarant who disposes of any interest in a condominium unit in violation of this chapter[,] or who in disposing of any such interest makes an untrue statement of a material fact[, or who in disposing of any such interest omits a material fact required to be stated in a registration statement or public offering statement or necessary to make the statements made not misleading,] is liable to the purchaser of such interest, as set forth in paragraph II, unless in the case of an untruth or omission it is proved that the purchaser knew of the untruth or omission or that the declarant did not know and in the exercise of reasonable care could not have known of the untruth or omission, or that the purchaser did not rely on the untruth or omission.
3 Committee to Study the Laws Relative to Condominium and Homeowners’ Associations. Amend RSA 356-B:70, IV(b) to read as follows:
(b) Study the registration of subdivisions under the land sales full disclosure act, RSA 356-A, and the repeal of registration requirements for condominiums under the condominium act, RSA 356-B, with the department of justice.
4 Repeal. The following are repealed:
I. RSA 356-B:2, III, relative to registration requirements for pre-1977 condominiums.
II. RSA 356-B:49, relative to exemptions from registration.
III. RSA 356-B:50, relative to limitations on disposition of units.
IV. RSA 356-B:51, relative to the application for registration.
V. RSA 356-B:52, relative to the public offering statement.
VI. RSA 356-B:53, relative to the inquiry and investigation authority of the department of justice.
VII. RSA 356-B:54, relative to notice of filing and registration.
VIII. RSA 356-B:55, relative to the declarant’s annual report.
IX. RSA 356-B:56, relative to conversion of the condominium.
X. RSA 356-B:57, relative to escrow deposits.
XI. RSA 356-B:61, I(c), relative to grounds for cease and desist orders pertaining to registration.
XII. RSA 356-B:61, I(d), relative to grounds for cease and desist orders pertaining to registration.
XIII. RSA 356-B:62, relative to revocation of registration.
XIV. RSA 356-B:64, relative to penalties pertaining to registration requirements.
XV. RSA 356-B:65, IV, relative to civil remedies for false registration statements.
XVI. RSA 356-B:69, relative to conflicts of interest based on registration with department of justice.
5 Effective Date. This act shall take effect January 1, 2012.