57-8a-215. Budget.

158 words·~1 min read·/ut/title-57/chapter-8a/57-8a-215

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Effective 5/6/2026

57-8a-215. Budget.

(1)At least once annually the board shall prepare and adopt a budget for the association.

(2)The board shall present the adopted budget to association members at a meeting of the members.

(3)A budget is disapproved if within 45 days after the date of the meeting under Subsection

(2)at which the board presents the adopted budget:

(a)there is a vote of disapproval by at least 51% of all the allocated voting interests of the lot owners in the association; and

(b)the vote is taken at a special meeting called for that purpose by lot owners under the declaration, articles, or bylaws.

(4)If a budget is disapproved under Subsection

(3)or not adopted under Subsection

(1), then the budget that the board last adopted continues as the budget until the board prepares and adopts a new budget for the association.

Amended by Chapter 62 , 2026 General Session