Condominium Bylaws And In Utah
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The dissolution process is done with Utah Division of Corporations following this general process: Under Utah Code § 16-6a et seq., HOAs/COAs that are registered nonprofit corporations may be dissolved following Utah Code § 16-1 et seq.
Utah Code Title 57 Chapter 8 is the inium Ownership Act authored by Keith Romney and passed into law in 1960. The Act allowed individuals to have private ownership of property in a collective unit. Although authored in 1960, the Act wasn't officially adopted until 1963.
Utah HOAs are primarily governed by the Utah Revised Nonprofit Corporation Act as well as specific legislation pertaining to iniums and community associations. These state laws are designed to work in conjunction with relevant federal laws to ensure that HOAs operate within the legal framework.
In Utah, two key laws govern homeowners associations ("HOAs") and inium owners associations ("COAs"). The inium Act, Utah Code § 57-8, applies to COAs, and deals with individually owned units supported by collectively held facilities and areas, such as iniums or townhomes.
Sale of property and common areas and facilities. the sale, conveyance, transfer, or other disposition of the portion of the common areas and facilities results in a person other than the association or a unit owner owning the portion of the common areas and facilities.
Utah law does not require any particular amount of reserves for associations.
Finally, is an HOA considered a local government? No—HOAs are not considered a local government entity. While they do hold some administrative functions for a community, such as collecting assessments and enforcing rules, they do not possess the authority granted to real government bodies.
