California Corporations Code

§ 12663

CORP § 12663 Effective Jan 1, 2007Div. 3 · Title 1 · Part 2 · Ch. 17

Statute text

Without the approval of 100 percent of the members, any contrary provision in this part or the articles or bylaws notwithstanding, so long as there is any lot, parcel, area, apartment or unit for which an owners’ association, created in connection with any of the forms of development referred to in Section 11004.5 of the Business and Professions Code, is obligated to provide management, maintenance, preservation, or control, the following shall apply:

(a)The owners’ association or any person acting on its behalf shall not do either of the following:

(1)Transfer all or substantially all of its assets.

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Legislative history

Amended by Stats. 2006, Ch. 538, Sec. 81. Effective January 1, 2007.