House committee substitute to the 1st edition makes the following changes. Deletes the content of proposed GS 47F-3-123 and instead provides that an amendment to any declaration of covenants or bylaws that prohibits the lease of a lot within a planned community for more than 30 days is not effective against a lot in a planned community. Effective October 1, 2019, and applies to planned communities established on or after the effective date of the act if the declaration of covenants or bylaws contain no restrictions or limitations upon the ability of a lot owner to lease a lot within the planned community. Amends the act's long title.
Bill H 594 (2019-2020)Summary date: May 3 2019 - View summary
Bill H 594 (2019-2020)Summary date: Apr 3 2019 - View summary
Amends GS Chapter 47F, Article 3 (management of planned community) to add new section GS 47F-3-123 to allow lot owners to continue leasing a lot if subsequent amendments are made to any declaration of covenants or bylaws restricting or limiting leasing of property.
Effective upon becoming law and applies to planned community declarations and bylaws amended on or after that date.