Current through the 2024 Fourth Special Session
Section 57-8-24 - Common profits, common expenses, and voting rights - Unit - Unconstructed unit(1) A unit is created by the recording of the declaration and a condominium plat that describes the unit.(2) An association of unit owners shall, according to each unit owner's respective percentage or fractional undivided interests in the common areas and facilities: (a) distribute the property's common profits among the unit owners;(b) except as otherwise provided in the declaration for unconstructed units, assess the unit owners the property's common expenses; and(c) make voting rights available to the unit owners.(3)(a) After the recording of a condominium project's declaration, an unconstructed unit is a unit for the purposes of the declaration and this chapter, including: (i) allocation of undivided interests in the common areas and facilities in accordance with Subsection 57-8-7(2); and(ii) voting rights in accordance with Section 57-8-24.(b) Subsection (3)(a) applies to a condominium project regardless of when the condominium project's initial declaration was recorded.Amended by Chapter 210, 2016 General Session ,§ 3, eff. 3/23/2016.Amended by Chapter 173, 1975 General Session