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A BILL TO BE ENTITLED
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AN ACT
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relating to dissolution of certain property owners' associations. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 209, Property Code, is amended by adding |
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Section 209.014 to read as follows: |
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Sec. 209.014. DISSOLUTION OF PROPERTY OWNERS' ASSOCIATION. |
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(a) An owner seeking to dissolve a property owners' association to |
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which the owner belongs must initiate the dissolution by |
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circulating a petition calling for the dissolution of the |
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association among other owners belonging to the association. |
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(b) A petition circulated under Subsection (a) must |
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contain: |
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(1) the name of the subdivision in which the owner |
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initiating the petition lives; |
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(2) the name of the owner initiating the petition; |
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(3) the reason the owner initiating the petition seeks |
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to dissolve the property owners' association; and |
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(4) the date the owner began circulating the petition. |
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(c) If at least 25 percent of the total number of owners |
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belonging to the property owners' association sign, acknowledge, or |
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otherwise approve in writing a petition circulated under Subsection |
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(a) on or before the first anniversary of the date the petition |
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began circulating, the owner initiating the petition shall file the |
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petition in the real property records of each county in which the |
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subdivision is located. |
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(d) Not later than the 180th day after the date a petition is |
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filed under Subsection (c), the property owners' association that |
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is the subject of the petition shall hold an election among the |
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association's members in accordance with the association's bylaws |
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to determine whether the association will be dissolved. |
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(e) If at least two-thirds of the total number of the votes |
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cast at the election held under Subsection (d) favor dissolving the |
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property owners' association, the association shall, not later than |
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the 180th day after the date of the election, take all steps |
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necessary under the association's constitution or bylaws formally |
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and fully to dissolve the association. |
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(f) The property owners' association shall record the |
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results of an election held under Subsection (d) in the real |
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property records of each county in which the subdivision is |
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located. |
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SECTION 2. This Act applies only to a property owners' |
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association created on or after the effective date of this Act. |
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SECTION 3. This Act takes effect September 1, 2009. |