AB 2692: Common interest developments: reinstatement of terminated declarations: County of Los Angeles.

Existing law, the Davis-Stirling Common Interest Development (act), governs the creation and operation of common interest developments. The act requires a declaration to be recorded to create a common interest development, and authorizes the declaration to be amended pursuant to the declarations provisions or pursuant to processes specified in the act.

This bill would establish a process for reinstating a declaration that has been terminated by operation of the provisions that set forth the initial term of the declaration. As a condition for reinstatement, the bill would require approval by the percentage of members that the declaration required for extending the term of the declaration. If the declaration does not specify that percentage, the bill would require approval by a majority of all members. The bill would make the declaration effective upon satisfaction of additional requirements, including certification of member approval and recording the declaration in the county recorders office. The bill would make the bills provisions applicable only to the County of Los Angeles and would repeal the provisions on January 1, 2028.

This bill would make legislative findings and declarations as to the necessity of a special statute for the County of Los Angeles.