57-8-36 - Existing projects -- Effect of statutory amendments.
57-8-36. Existing projects -- Effect of statutory amendments.
Any condominium project established by instruments filed for record prior to theeffective date of the foregoing amendments to the Condominium Ownership Act (hereinafterreferred to as an "existing project") and the rights and obligations of all parties interested in anysuch existing project shall, to the extent that the declaration, bylaws, and condominium platconcerning the existing project are inconsistent with the provisions of these amendments, begoverned and controlled by the provisions of the Condominium Ownership Act as they existedprior to these amendments and by the terms of the existing project's declaration, bylaws, andcondominium plat to the extent that these terms are consistent with applicable law other thanthese amendments. Any existing project containing or purporting to contain time period units,convertible land, or convertible space, any existing project which is or purports to be acontractible, expandable, or leasehold condominium, the validity of any such project, and thevalidity and enforceability of any provisions concerning time period units, convertible land,convertible space, withdrawable land, additional land, or leased land which are set forth in anexisting project's declaration, bylaws, or condominium plat, shall be governed by applicable lawin effect prior to these amendments, including principles relating to reasonableness, certainty,and constructive and actual notice, shall not necessarily be ineffective or defeated in whole or inpart because the project or provision in question does not comply or substantially comply withthose requirements of the foregoing amendments which would have been applicable had theinstruments creating the project been recorded after the effective date of these amendments, butshall, in any event, be valid, effective, and enforceable if the project or provision in questioneither substantially complies with those requirements of the foregoing amendments which relateto the subject at issue or employs an arrangement which substantially achieves the same policy asunderlies those requirements of the foregoing amendments which relate to the subject at issue.
Amended by Chapter 265, 2003 General Session