§ 32-25.5-3-9 — Amending governing documents; consents required

Indiana § 32-25.5-3-9

• Jurisdiction: Indiana
• Title 32: PROPERTY
• Art. 25.5: HOMEOWNERS ASSOCIATIONS

Text

The governing documents must contain a
provision allowing the owners to amend the governing documents at
any time, from time to time, subject to the following:
(1) The declarant's consent to an amendment may be required if:
(A) the declarant owns one (1) or more units within the
subdivision; and
(B) not more than seven (7) years have passed since the original
governing documents were first recorded.
(2) The consent of the owners to the amendment has been
obtained as evidenced by either of the following:
(A) The vote of the owners at a meeting duly called for the
purpose of considering the amendment.
(B) A written instrument signed by the owners.
The governing documents may not require that the consent of
more than seventy-five percent (75%) of the owners is required
for consent under this subdivision.
(3) If the consent of first mortgage holders is required, only first
mortgage holders that provide an address to the secretary of the
board must be notified. The consent of a first mortgage holder
must be indicated in a written instrument signed by the mortgage
holder. However, a mortgage holder is considered to have
consented to a proposed amendment if the mortgage holder does
not respond to a written request for consent within thirty (30) days
after the mortgage holder receives the request. The governing
documents may not require that the consent of more than
seventy-five percent (75%) of first mortgage holders eligible to
receive notice is required for consent under this subdivision.
(4) Notwithstanding subdivisions (1) through (3), the governing
documents may require the approval of at least ninety-five percent
(95%) of the owners to convey common areas or to dissolve the
plan of governance for the homeowners association.

Legislative History

As added by P.L.141-2015, SEC.11. Amended by P.L.164-2016, SEC.6.