S.B. 278
         HOMEOWNERS' ASSOCIATION AMENDMENTS

Senate Floor Amendments

Amendment 1 March 5, 2010 10:02 AM



Senator Stephen H. Urquhart proposes the following amendments:

1.    Page 1, Line 12 :    

             12          .    requires a reserve
{   study   }        analysis       to be conducted and a review of a reserve      {   study   }        analysis       on a


2.    Page 1, Line 27 through Page 2, Line 28 :    

             27          57-8-7.5. Reserve
{   study   }        analysis       -- Reserve fund.

             28          (1) As used in this section, "reserve
{   study   }        analysis       " means      {   a study   }        an analysis       to determine:


3.    Page 2, Line 35 :    

             35          (a) (i) subject to Subsection (2)(a)(ii), cause a reserve
{   study   }        analysis       to be conducted no less


4.    Page 2, Line 37 :    

             37          (ii) if no reserve
{   study   }        analysis       has been conducted since March 1, 2008, cause a reserve      {   study   }        analysis      


5.    Page 2, Line 39 :    

             39          (b) review and, if necessary, update a previously conducted reserve
{   study   }        analysis       no less


6.    Page 2, Line 41 :    

             41          (3) The management committee may conduct a reserve
{   study   }        analysis       itself or may engage a


7.    Page 2, Line 43 :    

             43      reserve
{   study   }        analysis       .


8.    Page 2, Line 45 :    

             45          (i) for daily maintenance expenses, unless
  a majority of the       members of the association of unit owners



9.    Page 2, Lines 56 through 57 :    

             56          57-8a-211. Reserve
{   study   }        analysis       -- Reserve fund.

             57          (1) As used in this section, "reserve
{   study   }        analysis       " means      {   a study   }        an analysis       to determine:



10.    Page 3, Line 64 :    

             64          (a) (i) subject to Subsection (2)(a)(ii), cause a reserve
{   study   }        analysis       to be conducted no less


11.    Page 3, Line 66 :    

             66          (ii) if no reserve
{   study   }        analysis       has been conducted since March 1, 2008, cause a reserve      {   study   }        analysis      


12.    Page 3, Line 68 :    

             68          (b) review and, if necessary, update a previously conducted reserve
{   study   }        analysis       no less


13.    Page 3, Lines 70 through 71 :    

             70          (3) The board may conduct a reserve
{   study   }        analysis       itself or may engage a reliable person or

             71      organization, as determined by the board, to conduct the reserve
{   study   }        analysis       .


14.    Page 3, Line 73 :    

             73          (i) for daily maintenance expenses, unless
  a majority of       association members vote to approve the use


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