1309-S AMH VAND PFUN 035

SHB 1309 - H AMD 62

By Representative Van De Wege

WITHDRAWN 03/03/2011

    On page 18, line 29, after "hardship," strike all material through "shall" on line 30 and insert "the owners in an association with significant assets may, by a majority of the voting power in the association present at any meeting of the owners, in person or by proxy, and entitled to vote at any meeting of the owners at which quorum is present, require the association to"

    On page 18, line 34, after "hardship," strike "the association shall" and insert "the owners in an association with significant assets may, by a majority of the voting power in the association present at any meeting of the owners, in person or by proxy, and entitled to vote at any meeting of the owners at which quorum is present, require the association to"

    On page 18, line 35, after "annually." strike "At" and insert "If the owners require reserve studies to be updated pursuant to this section, at"

    On page 19, line 2, after "study" insert "mandated by the owners pursuant to this section"

    On page 19, line 3, after "board." strike all material through "utilized." on line 5 and insert "The preparation and updating of a reserve study mandated by the owners pursuant to this section must comply with RCW 64.38.025, and sections 10 and 12 of this act."

    On page 19, line 10, after "study" insert "under section 9 of this act"

    On page 21, line 5, after "(1)" strike "When" and insert "If an association is required to conduct reserve studies pursuant to section 9 of this act, and when"

EFFECT:   Requires homeowners' associations with significant assets to complete reserve studies only if ordered to do so by a majority vote of the homeowners present in an association meeting (rather than requiring all homeowners' associations with significant assets to complete reserve studies).  

--- END ---