S 987 Session 112 (1997-1998)
S 0987 General Bill, By Cork
A BILL TO AMEND SECTION 27-31-130, CODE OF LAWS OF SOUTH CAROLINA, 1976,
RELATING TO THE HORIZONTAL PROPERTY ACT AND THE PROVISION THAT THE HORIZONTAL
PROPERTY REGIME MAY BE WAIVED AND MERGED, SO AS TO PROVIDE THAT IN THE CASE OF
NONPROFIT LONG-TERM CARE RETIREMENT OR LIFE CARE FACILITIES, IF THERE ARE
CO-OWNERS THEN A TWO-THIRDS VOTE, RATHER THAN A UNANIMOUS VOTE, OF THE
CO-OWNERS SUFFICES TO WAIVE THE REGIME.
02/04/98 Senate Introduced and read first time SJ-13
02/04/98 Senate Referred to Committee on Judiciary SJ-13
04/01/98 Senate Committee report: Favorable with amendment
Judiciary SJ-7
04/02/98 Senate Amended SJ-37
04/02/98 Senate Read second time SJ-37
04/07/98 Senate Read third time and sent to House SJ-8
04/08/98 House Introduced and read first time HJ-23
04/08/98 House Referred to Committee on Judiciary HJ-23
Indicates Matter Stricken
Indicates New Matter
COMMITTEE AMENDMENT ADOPTED
April 2, 1998
S. 987
Introduced by Senator Cork
S. Printed 4/2/98--S.
Read the first time February 4, 1998.
A BILL
TO AMEND SECTION 27-31-130, CODE OF LAWS OF SOUTH
CAROLINA, 1976, RELATING TO THE HORIZONTAL
PROPERTY ACT AND THE PROVISION THAT THE
HORIZONTAL PROPERTY REGIME MAY BE WAIVED AND
MERGED, SO AS TO PROVIDE THAT IN THE CASE OF
NONPROFIT LONG-TERM CARE RETIREMENT OR LIFE
CARE FACILITIES, IF THERE ARE CO-OWNERS THEN A
TWO-THIRDS VOTE, RATHER THAN A UNANIMOUS VOTE,
OF THE CO-OWNERS SUFFICES TO WAIVE THE REGIME.
Amend Title To Conform
Be it enacted by the General Assembly of the State of South
Carolina:
SECTION 1. Section 27-31-130 of the 1976 Code is amended to
read:
"Section 27-31-130. (A) All the co-owners or the
sole owner of the property constituted into an a
horizontal property regime may waive the regime and regroup or
merge the records of the individual apartments with the principal
property, provided that if the individual apartments
are unencumbered, or if encumbered, that the creditors in whose
behalf the encumbrances are recorded agree to accept as security the
undivided portions of the property owned by the debtors.
(B) Notwithstanding subsection (A), in the case of nonprofit
long-term care retirement or life care facilities if there are co-owners,
a two-thirds vote of the co-owners suffices to waive the regime and
regroup or merge the records of the individual apartments with the
principal property if the individual apartments are unencumbered, or
if encumbered, that the creditors in whose behalf the encumbrances
are recorded agree to accept as security the undivided portions of the
property owned by the debtors."
SECTION 2. This act takes effect upon approval by the Governor.
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