HB189 Alabama 2016 Session
Bill Summary
Under existing law, after the time has passed for a purchaser to cancel a condominium contract, certain deposits may be withdrawn for construction purposes
This bill would define certain terms involved in a condominium contract
This bill would require that the escrow agent be located in state and that a declarant may accept a letter of credit in lieu of a portion or all of the deposit
This bill would allow a declarant to withdraw certain deposits to pay hard costs associated with construction under certain circumstances and would limit the withdrawal
This bill would require that the contract provide clear written notice that certain deposits may be used for certain hard costs
To amend Section 35-8A-410, Code of Alabama 1975, relating to the Alabama Uniform Condominium Act; to define certain terms relating to escrow and building costs; to specify conditions of escrow deposit and use; and to require written notice in the contract that deposits may be used under certain conditions.
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| May 4, 2016 | H | Delivered to Governor at 11:00 a.m. on May 4, 2016. |
| May 4, 2016 | H | Assigned Act No. 2016-350. |
| May 4, 2016 | H | Clerk of the House Certification |
| May 4, 2016 | S | Signature Requested |
| May 3, 2016 | H | Enrolled |
| May 3, 2016 | H | Passed Second House |
| May 3, 2016 | S | Motion to Read a Third Time and Pass adopted Roll Call 944 |
| May 3, 2016 | S | Third Reading Passed |
| April 7, 2016 | S | Read for the second time and placed on the calendar |
| March 23, 2016 | S | Read for the first time and referred to the Senate committee on Fiscal Responsibility and Economic Development |
| March 22, 2016 | H | Motion to Read a Third Time and Pass adopted Roll Call 329 |
| March 22, 2016 | H | Third Reading Passed |
| February 17, 2016 | H | Read for the second time and placed on the calendar |
| February 11, 2016 | H | Read for the first time and referred to the House of Representatives committee on Commerce and Small Business |
Bill Calendar
| Type | Date | Location | Description |
|---|---|---|---|
| Hearing | April 6, 2016 | Room 727 at 15:00 | Senate FR&ED Hearing |
| Hearing | February 17, 2016 | Room 123 REVISED AGENDA at 15:00 | House C&SB Hearing |
Bill Text
Bill Votes
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB189 Alabama 2016 Session - Introduced |