Sec. 47-74c. Declarant not to retain ownership interest in recreational facilities.
150 words·~1 min read·
/ct/title-47/chapter-825-condominium-act/47-74c·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The declarant shall not retain ownership of, and lease or otherwise require payment for the use of the recreation facilities nor shall the declarant convey such recreation facilities to any person other than to the unit owners of the condominium served by such recreation facilities, which shall be common elements of the condominium within which they are located or which they serve; provided any condominium may provide by its condominium instruments that by affirmative vote of the unit owners at any time after the unit owners other than the declarant have assumed or have the right to assume control of the unit owners' association under section 47-74b , all or part of the recreational facilities serving such condominium shall be conveyed to a nonstock corporation organized under chapter 602, the board of directors of which shall be composed exclusively of unit owners of the condominium served by such recreational facilities.