We all know that our 2006 legislature was very busy cleaning up SB-100 adopted in 2005. The legislature, in its haste to get SB 100 passed, left more than a little ambiguity in its provisions. As we’ve reported in the past, SB-89 (formally known as SB06-89) is the clean up bill. We’ve attached here a comparison chart summarizing actions associations should take, or might consider taking, based on the provisions of SB 89.
The full text of SB 100 was 28 pages long, and the full text of SB 89 is 18 pages long. Our summary is simply a paraphrasing of certain key provisions of the two acts. It is always dangerous to paraphrase statutes, as every part of a statute is important. Further, certain provisions of the statutes may be subject to other specific provisions of an association’s governing documents. Therefore, before your association takes any action based on this comparison chart, please check with your association’s attorney for specific application.