§ 34-41-3.15 - Direct initiative by owners.
SECTION 34-41-3.15
§ 34-41-3.15 Direct initiative by owners.– (a) The owners may amend the project instrument or any unrecorded documentgoverning the project, or approve or disapprove any proposed expenditure, inthe manner provided by this section in addition to any manner permitted byother law or by the instrument or document.
(b) Any owner may deliver to the managing entity a petitioncontaining the language of any proposed amendment and signed by owners of atleast one time share or other state or interest in each of a number of units towhich at least thirty-three and one-third percent (33 1/3%) of the votes areallocated, or any smaller percentage specified by the document to be amended.The owner delivering the petition may attach to it a letter of not more thantwo (2) pages to be mailed with the ballots. Within ten (10) days afterreceiving the petition, the managing entity shall mail to each owner a ballotsetting forth the language of the petition and affording an opportunity toindicate a preference between approval and disapproval of the proposal,together with a copy of any letter of not more than two (2) pages attached bythe owner who delivered the petition. The ballot may also be accompanied by aletter of not more than two (2) pages from the managing entity recommendingapproval or disapproval of the proposal.
(c) On the date specified pursuant to §34-41-3.14(c)(2), the managing entity shall examine the ballots that have beenreturned and calculate the vote accordingly. A signature on the petition mustbe treated for the purpose of § 34-41-3.14(f) as a ballot from the signerindicating approval of the proposed amendment. A simple majority of the votescounted suffices for the adoption of the proposal unless other law or thedocument to be amended specifies a larger majority or, in the case of aproposed expenditure, the project instruments specify a larger majority notexceeding sixty-six and two-thirds percent (66 2/3%). No document may specifymore than a simple majority for any proposal the managing entity could haveeffected unilaterally. No proposal may be adopted by an initiative in which theballots favoring the proposal represent less than ten percent (10%) of thevotes allocated to all owners.
(d) A proposal adopted pursuant to this section may not berepealed or modified within three (3) years except by another initiativepursuant to this section. Thereafter, the managing entity may not repeal ormodify the result without the approval of the owners in a referendum. If theproject instrument permits the managing entity to initiate a referendum forthat purpose, no referendum may be initiated for that purpose more often thanonce every three (3) years.