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Louisiana Revised Statutes Tit. 9, § 1141.22. Declarant control of the association

Current as of January 01, 2023 | Updated by Findlaw Staff

A. The declaration may provide for a period of declarant control of the association, during which a declarant, or persons designated by the declarant, may appoint and remove the officers and directors. A declarant may voluntarily surrender the right to appoint and remove officers and directors before the period ends. In that event, the declarant may require, during the remainder of the period, that specified actions of the association or board of directors as described in a recorded instrument executed by the declarant be approved by the declarant before becoming effective.

B. Regardless of the period provided in the declaration, a period of declarant control terminates as follows:

(1) If the right to add additional immovable property to the planned community was not reserved in the declaration, one hundred twenty days after the date that seventy-five percent of the total number of lots in the planned community are transferred to unrelated purchasers.

(2) If the right to add additional immovable property to the planned community was reserved in the declaration, upon the expiration of the time period provided in R.S. 9:1141.7(C), as that period may be extended by the declarant's timely exercise of the right to add additional immovable property.

C. Notwithstanding the provisions of this Section, in no event shall the period of declarant control of a master association terminate until all periods of declarant control for all planned communities subject to the master association have terminated.

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Cite this article: FindLaw.com - Louisiana Revised Statutes Tit. 9, § 1141.22. Declarant control of the association - last updated January 01, 2023 | https://codes.findlaw.com/la/revised-statutes/la-rev-stat-tit-9-sect-1141-22/

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