Pennsylvania § 4203 Construction and validity of declaration and bylaws

Pennsylvania Statutes

§ 4203 — Construction and validity of declaration and bylaws

Pennsylvania·Title 68 REAL AND PERSONAL PROPERTY·Part PART II·Ch. 42 CREATION, ALTERATION AND TERMINATION

(a)Provisions severable.--All provisions of the declaration and bylaws are severable.

(b)Application of rule against perpetuities.--The rule against perpetuities may not be applied to defeat any provision of the declaration, bylaws or rules and regulations adopted pursuant to section 4302(a)(1) (relating to powers of association).

(c)Conflict between declaration and bylaws.--In the event of a conflict between the provisions of the declaration and the bylaws, the declaration prevails except to the extent the declaration is inconsistent with this subpart.

(d)Effect of noncompliance on title to unit.--Title to a cooperative interest is not rendered unmarketable or otherwise affected by reason of an insubstantial failure of the declaration to comply with this subpart. Whether a substant

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(a) Provisions severable.--All provisions of the declaration and bylaws are severable.

(b) Application of rule against perpetuities.--The rule against perpetuities may not be applied to defeat any provision of the declaration, bylaws or rules and regulations adopted pursuant to section 4302(a)(1) (relating to powers of association).

(c) Conflict between declaration and bylaws.--In the event of a conflict between the provisions of the declaration and the bylaws, the declaration prevails except to the extent the declaration is inconsistent with this subpart.

(d) Effect of noncompliance on title to unit.--Title to a cooperative interest is not rendered unmarketable or otherwise affected by reason of an insubstantial failure of the declaration to comply with this subpart. Whether a substantial failure impairs marketability is not affected by this subpart.

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