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Indicates Matter Stricken
Indicates New Matter
H. 4512
STATUS INFORMATION
General Bill
Sponsors: Rep. Bradley
Document Path: l:\council\bills\nbd\11163cz18.docx
Introduced in the House on January 9, 2018
Currently residing in the House Committee on Labor, Commerce and Industry
Summary: Horizontal property regime, waivers
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number
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12/13/2017 House Prefiled
12/13/2017 House Referred to Committee on Labor, Commerce and Industry
1/9/2018 House Introduced and read first time (House Journal-page 139)
1/9/2018 House Referred to Committee on Labor, Commerce and Industry
(House Journal-page 139)
View the latest legislative information at the website
VERSIONS OF THIS BILL
TO AMEND SECTION 27-31-130, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE WAIVER OF A HORIZONTAL PROPERTY REGIME, SO AS TO ALTER CERTAIN REQUIREMENTS REGARDING THE MERGER OF INDIVIDUAL APARTMENTS WITH THE PRINCIPAL PROPERTY.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 27-31-130(A) of the 1976 Code is amended to read:
"(A) All An affirmative three-fourths vote of all of the co-owners or the sole owner of the property constituted into a horizontal property regime may 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, if the creditors in whose behalf the encumbrances are recorded agree to accept as security the undivided portions of the property owned by the debtors do not object within two weeks of receiving notice of the intent to merge the individual apartments with the principal property."
SECTION 2. This act takes effect upon approval by the Governor.
This web page was last updated on
January 10, 2018 at 1:32 PM