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Effective 5/6/2026
57-8a-215. Budget.

(1)	At least once annually the board shall prepare and adopt a budget for the association.

(2)	The board shall present the adopted budget to association members at a meeting of the members.

(3)

A budget is disapproved if within 45 days after the date of the meeting under Subsection (2) at which the board presents the adopted budget:

(a)	there is a vote of disapproval by at least 51% of all the allocated voting interests of the lot owners in the association; and

(b)	the vote is taken at a special meeting called for that purpose by lot owners under the declaration, articles, or bylaws.

(4)	If a budget is disapproved under Subsection (3) or not adopted under Subsection (1), then the budget that the board last adopted continues as the budget until the board prepares and adopts a new budget for the association.

Amended by Chapter 62, 2026 General Session

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